Retail traders in Bangladesh have alleged that edible oil companies are deliberately creating an artificial shortage of bottled soybean oil to raise prices amid an ongoing fuel crisis. They claim that companies have sharply reduced supply over the past six weeks, citing international price increases and lower profit margins. The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association recently requested the Ministry of Commerce and the Tariff Commission to adjust prices, but the government has not yet held any meeting or made a decision.
Visits to markets in Dhaka and surrounding areas revealed that one- and two-liter bottles of soybean oil are scarce, while five-liter bottles are available in limited quantities. Retailers report reduced commissions and declining profits, leading to lower sales interest. Some shops are selling oil above the maximum retail price. Wholesale prices of loose soybean and palm oil have also risen by about five taka per kilogram.
Consumer rights group CAB criticized the situation, blaming weak government oversight and syndicate activities for the artificial crisis. It warned that companies are using supply cuts and commission reductions to pressure the government into approving price hikes.