Edible oil prices fall in Ctg wholesale market, remain unchanged at retail

Wholesale prices of soybean and palm oil have declined in Chattogram over the past week, but retail prices remain unchanged.

During a visit to the Chaktai-Khatunganj wholesale market, traders and importers said soybean oil prices had fallen by Tk3.13 per litre and palm oil prices by Tk2.41 per litre over the week.

Today (11 October), soybean oil was selling at Tk177.33 per litre in the wholesale market, while the retail price remained at Tk210 per litre. Wholesale palm oil was selling at Tk156.75 per litre, compared with retail prices ranging from Tk170 to Tk175.

Consumers and traders blamed inadequate market monitoring for the persistent gap between wholesale and retail prices.

Edible oil wholesaler Kamrul Huda said prices had fallen due to lower international booking rates and improved supplies. The booking rate for crude soybean oil had declined to $1,200 per tonne from $1,223 per tonne last month, he added.

According to the Ministry of Commerce, Bangladesh requires around 25 lakh tonnes of edible oil annually, with nearly 90% of demand met through imports of crude soybean and palm oil. The remainder is supplied mainly by domestic sources, including rice bran and mustard oil.

National Board of Revenue (NBR) data show that Bangladesh spent around Tk30,440 crore importing 22.23 lakh tonnes of soybean and palm oil in the 2025-26 fiscal year. Including customs duties, VAT and other costs, the total expenditure reached approximately Tk35,000 crore.

Chattogram Customs data show that 65,956 tonnes of edible oil were imported between July and the third week of September in the 2026-27 fiscal year. Of the total, 50,896 tonnes were palm oil and 15,061 tonnes were soybean oil. More shipments are on the way, while mill owners and importers still hold stocks from the previous fiscal year.

At a recent meeting with traders and importers organised by the Chattogram Chamber of Commerce and Industry, Commerce Minister Khandaker Abdul Muqtadir said supplies of essential commodities, including edible oil and sugar, were adequate, with further shipments expected ahead of Ramadan.

He urged traders to open letters of credit (LCs) on time to ensure sufficient supplies during the peak demand period. He also called for cooperation to prevent unscrupulous practices that burden consumers.

Md Mohiuddin, general secretary of the Chaktai-Khatunganj Wholesalers and General Traders Welfare Association, said local prices largely followed international market trends because most goods sold in Khatunganj were imported.

However, a survey of retail shops in Kazir Dewri, Bahaddarhat, Riazuddin Bazar and Chawkbazar found that loose soybean oil was still selling at previous prices. Bottled oil was also being sold above its marked price. A 500ml bottle marked at Tk104 was selling for Tk105, while a one-litre bottle marked at Tk204 was selling for Tk210.

Iqbal Chowdhury, a consumer from the Ghatfarhadbeg area, said high edible oil prices were adding to the financial pressure on households amid rising living costs and largely unchanged incomes.

S M Nazer Hossain, vice-president of the central committee of the Consumers Association of Bangladesh (CAB), warned that traders might seek to raise prices ahead of Ramadan and called for stronger market monitoring.

Foyez Ullah, deputy director of the Chattogram divisional office of the Directorate of National Consumer Rights Protection, said regular market drives were underway and action was being taken against irregularities.

He added that the operations would continue.