Chattogram:Wholesale prices for soybean and palm oil have decreased in Chattogram over the past week, while retail prices have remained stable.
According to Bangladesh Sangbad Sangstha, traders and importers at the Chaktai-Khatunganj wholesale market reported a decrease in soybean oil prices by Tk 3.13 per litre and palm oil by Tk 2.41 per litre. As of Sunday, wholesale soybean oil was priced at Tk 177.33 per litre, compared to its retail price of Tk 210. Wholesale palm oil was selling for Tk 156.75 per litre, while retail prices ranged from Tk 170 to Tk 175.
The persistent gap between wholesale and retail prices has been attributed to inadequate market monitoring by consumers and traders. Kamrul Huda, an edible oil wholesaler, explained that the price drop was due to lower international booking rates and improved supply. The booking rate for crude soybean oil has decreased to $1,200 per tonne from $1,223 last month.
Bangladesh's Ministry of Commerce states that the country requires approximately 25 lakh tonnes of edible oil annually, with nearly 90 percent of this demand being met through imports of crude soybean and palm oil. The rest is supplied by domestic sources such as rice bran and mustard oil.
Data from the National Board of Revenue shows that Bangladesh spent around Tk 30,440 crore importing 22.23 lakh tonnes of soybean and palm oil in the 2025-26 fiscal year. Including customs duties, VAT, and other costs, total expenditure reached about Tk 35,000 crore.
Chattogram Customs reported the import of 65,956 tonnes of edible oil between July and the third week of September in the 2026-27 fiscal year, consisting of 50,896 tonnes of palm oil and 15,061 tonnes of soybean oil. Additional shipments are expected, while mill owners and importers still hold stocks from the previous fiscal year.
Commerce Minister Khandaker Abdul Muqtadir, during a meeting with traders and importers organized by the Chattogram Chamber of Commerce and Industry, confirmed adequate supplies of essential commodities, including edible oil and sugar, with more shipments anticipated before Ramadan. He urged traders to open letters of credit in time to ensure sufficient supplies during peak demand and called for cooperation to avoid unscrupulous practices affecting consumers.
Md Mohiuddin, general secretary of the Chaktai-Khatunganj Wholesalers and General Traders Welfare Association, noted that local prices largely follow international trends because most goods sold in Khatunganj are imported. However, a survey of retail shops in Kazir Dewri, Bahaddarhat, Riazuddin Bazar, and Chawkbazar revealed that loose soybean oil prices have not changed. Bottled oil was being sold above its marked price, with a 500ml bottle priced at Tk 104 selling for Tk 105, and a one-litre bottle priced at Tk 204 selling for Tk 210.
Iqbal Chowdhury, a consumer from the Ghatfarhadbeg area, expressed concerns over the high edible oil prices, which are adding financial pressure to 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, warned that traders might attempt 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, stated that regular market drives are underway and actions are being taken against irregularities, with operations set to continue.