Chattogram:Wholesale prices of soybean and palm oil have seen a decline in Chattogram over the past week, while retail prices have remained unchanged.
According to Bangladesh Sangbad Sangstha, traders at the Chaktai-Khatunganj wholesale market reported a decrease of Tk 3.13 per litre for soybean oil and Tk 2.41 per litre for palm oil. On Sunday, the wholesale price for soybean oil was Tk 177.33 per litre, whereas the retail price stayed at Tk 210. Palm oil was sold at Tk 156.75 per litre wholesale, compared to retail prices ranging from Tk 170 to Tk 175.
Traders and consumers have attributed the persistent gap between wholesale and retail prices to insufficient market monitoring. Edible oil wholesaler Kamrul Huda mentioned that the price drop was due to lower international booking rates and improved supplies, with crude soybean oil booking rates falling to $1,200 per tonne from $1,223 last month.
Bangladesh's annual demand for edible oil is around 25 lakh tonnes, with nearly 90 percent met through imports of crude soybean and palm oil, According to Ministry of Commerce. The remaining demand is fulfilled by domestic sources such as rice bran and mustard oil.
Data from the National Board of Revenue revealed that in the 2025-26 fiscal year, Bangladesh spent approximately Tk 30,440 crore on importing 22.23 lakh tonnes of soybean and palm oil. Including duties and other costs, the total expense reached about Tk 35,000 crore.
Chattogram Customs reported that 65,956 tonnes of edible oil were imported between July and the third week of September in the 2026-27 fiscal year, comprising 50,896 tonnes of palm oil and 15,061 tonnes of soybean oil. Additional shipments are expected, with existing stock still held by mill owners and importers from the previous year.
Commerce Minister Khandaker Abdul Muqtadir assured at a meeting that supplies of essential commodities, including edible oil and sugar, were adequate, urging traders to ensure timely opening of letters of credit to meet demand during Ramadan.
Md Mohiuddin, from the Chaktai-Khatunganj Wholesalers and General Traders Welfare Association, highlighted that local prices mainly follow international trends due to the import nature of goods in Khatunganj.
Despite these trends, a survey found retail shops in various areas still selling loose soybean oil and bottled oil above marked prices, adding financial pressure on consumers. Iqbal Chowdhury, a resident, expressed concern over rising living costs.
Meanwhile, S M Nazer Hossain of the Consumers Association of Bangladesh called for stronger market monitoring to prevent potential price hikes before Ramadan. Foyez Ullah from the Directorate of National Consumer Rights Protection confirmed ongoing market operations to curb irregularities, stating that these efforts would continue.