Soya bean oil prices shot up at the retail market in the capital over the week surpassing the fixed price submitted by some of the oil refiners despite a new distributorship system for selling the edible oil was launched one week ago.
On Monday, Loose soybean oil was sold for Tk 125 per kilogram at the retail market in the city, an increase by Tk 15 over the week although two of the refiners set oil price at Tk 110 per kilo and submitted the price to Tariff Commission.
The distributors said that they were not getting bottled soybean oil from the refiners. They will not be able to get the booked oil from the refiners until mid-August.
They also claimed that the refiners might have adopted the tactics to discourage the distributorship and keep the delivery order system for their interest.
Abul Hashem Khan, a wholesaler at Moulvi Bazaar said.'If we book today for oil the refiners set the delivery date for August 10. They are not supplying the oil instantly.'
Shahin, a trader at Karwan Bazar said that he had paid the money for soybean oil but the refiners informed them they would not deliver oil before one and half months.
Under the new distributorship order, the refiners were supposed to submit the retail price of oil and sugar to the Tariff Commission before starting the distributorship. But most of the companies have not submitted the price list of the commodities.
According to the Tariff Commission, there are 15 companies in the country who refine oil and sugar. But none of them submitted the price of bottled soybean oil.
It seems that the refiners were not submitting the retail price of oil for increasing the price of bottled oil, said Shah Alam, a retailer at Karwan Bazar.
Last week, at a meeting with the refiners and businessmen the commerce minister said that the ministry would not interfere with the refiners in setting price of sugar and oil. The ministry also made some other conditions flexible upon request from the refiners.
However, the commerce ministry officials did not admit any problem regarding the distributorship.
Commerce ministry joint secretary Shawakat Ali Waresi said, 'We have not heard any problems about the distributorship system… it is going well. We will get the evaluation on July 7.'
Source : New Age