Soybean oil supply shortage increasing, market instability raises concerns

PNN News Desk. Dhaka

The supply of soybean oil in the domestic market is becoming increasingly tight. Retail shops that once had sufficient bottled oil now face limited supply. In many cases, there are allegations that dealers are forcing customers to buy other products in order to get oil. Open oil is also being sold above fixed prices.

Market sources say demand may increase further ahead of the upcoming Qurbani Eid, which could worsen the situation if supply is not stabilized.

Government data shows soybean oil imports have significantly decreased this year compared to last year.

According to the Bangladesh Trade and Tariff Commission, the country needs about 2.4 million tons of edible oil annually, most of which is imported.

Traders say importers are discouraged due to international price fluctuations and lack of price adjustment in the domestic market.

Globally, soybean oil prices are rising, increasing import costs.

According to Trading Corporation of Bangladesh (TCB), bottled soybean oil is currently selling at around 195 to 200 taka per liter, but higher prices are also being reported.

Consumer rights groups say weak market monitoring and unethical business practices are creating artificial shortages.

The Ministry of Commerce said it is monitoring the situation and will take strict action if manipulation is found.

Experts believe urgent policy coordination and stronger market monitoring are needed to stabilize supply ahead of the upcoming festive season.