Uptrend in kitchen market, rice stable
Sat May 16, 2009 - 12:21am BdSTThe prices of some essential items especially edible oil, lentil and some other varieties of vegetables were showing an upward trend in the city's kitchen markets yesterday.
The prices of some essential items especially edible oil, lentil and some other varieties of vegetables were showing an upward trend in the city's kitchen markets yesterday.
Traders have ultimately moved away from their commitment with the government over fixing the prices of edible oil at mill gates saying that the prices on the international market are on the rise.
Edible oil importers and refiners at a review meeting on the prices of essentials at the FBCCI conference room on Saturday came up with this frustrating news for the consumers.
Although the government has fixed the price of Soyabean oil at Tk 78 per litre, it has failed to impact on the city's kitchen market and oil is selling at previous high price of Tk 85 per litre.
Price of bottled edible oil will be reduced by Tk 5 per litre in the domestic market from Saturday as importers and refiners agreed to slash price to lower burden of consumers.
Securities and Exchange Commission Chairman Faruq Ahmad Siddiqi yesterday said the falling prices of edible oil and fuel are blessings for Bangladesh economy.
“Now the government will have to borrow less and this will help increase the credit flow to the private sector,” he said at a roundtable on global financial crisis and its impact on Bangladesh.
A pinch has developed between the buyers and sellers in the capital as well as throughout the country as even after arrival of huge Boro rice, the price of the staple food is yet to come down in the markets while price spike of some items including edible oil and lentils continues to hit the limited income groups.