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Prices of nonbrand edible oil rise despite int'l downtrend

Shaheen Mollah and Wasim Bin Habib
Prices of non-brand edible oil, which had been falling in accordance with a downward trend in the international market over the last month and a half, suddenly went up in kitchen markets of the capital over the last three days.
In wholesale markets, the price of non-brand palm oil rose by Tk 100 a maund over the last three days, selling for Tk 3,250 a maund on Thursday compared to the price ofTk 3,150 a maund three days ago. The price however had gone up to Tk 3,800 three weeks ago. The price of super palm oil also went up byTk 100 a maund, selling for Tk 3,370 a maund in wholesale markets on Thursday compared to Tk 3,270 a maund two days ago. Three weeks ago the price had gone uptoTk3,900.
The price of non-brand soybean oil increased by Tk 50 a maund, selling for Tk 3,950 on Thursday compared to the price of Tk 3,900 two days ago. Three weeks back, the price had leapt toTk4,400.
Wholesalers of Moulvibazar Oil Market in tlie city said the price of crude soybean oil which jumped to $1,430 a tonne a month and a half ago, is now selling for over $1,100 in the international market.
The price of crude palm oil came down to $900 a tonne from the month and a half old price of $1,360.
On August 5, Fakhrul Alam, the country manager of Malaysian Palm Oil Council, told The Daily Star that although jhe .^op^es^c, demand for edible oil is .90,000 tonnes a month, 1,48,000 tonnes of palm oil were imported in July.
In retail markets, the prices however remained stable through last week after witnessing a decreasing trend for two weeks.
A litre of palm and super palm oil was selling for Tk 90 to Tk 100 while soybean oil was selling for Tk 108 to Tk 114 in the retail markets yesterday.
The price of brand soybean oil came down slightly in the retail markets over the last few days. A 5 litre can was selling for Tk 570 to Tk 590 yesterday which had sold forTk 600 to Tk 615 two weeks ago.
All brand soyabean oil companies also reduced the prices of their products by Tk 4 to Tk 6 a litre in the wake of earlier price fall of nonbrand edible oil.
Meanwhile, Bangladesh Rifles (BDR) started selling rice for the reduced price of Tk 28 a kilogram (kg) from its 100 fair-price outlets in the capital yesterday while open market sales (OMS) were suspended due to the day being a weekly holiday.
The BDR outlets witnessed a moderate crowd yesterday due to the OMS centres being closed.