C T Online Desk: The DO sale of edible oil in Khatunganj has suddenly become unstable. In the last two days, it has increased up to two hundred rupees per mana. DO sales were volatile throughout the day on the pretext of dollar crisis and increase in edible oil prices in the global market.
President of Chaktai-Khatunganj Artdar and Business Association Jahangir Alam told the media, “The market has become unstable due to the manipulation of DO traders. The market has suddenly risen on the pretext of increasing the price of edible oil in the world market due to the dollar crisis in the banks due to the opening of new LCs (letters of credit).
After visiting Khatunganj yesterday, it can be seen that the DO of palm oil has been going up and down since morning. It is the middlemen who go around in the market and sell the DOs. In the morning, it increased from 4 thousand 600 or 4 thousand 650 taka to 4 thousand 730 taka. The rest are sold at a higher price. But as the evening approached, the market fell. A maund (37.320 kg) is sold at the price of Tk 4,680. The same is the case with soybean oil. Soybean oil DO increased to 6 thousand 670 taka. The rest are sold at higher prices. In the evening it was sold for 6 thousand 550 taka. Traders indicated that the price may increase further.
Big trader of edible oil in Khatunganj Alamgir Parvez told the media, “The price of edible oil has increased due to the increase in the price of the dollar and the increase in the booking rate in the world market.” Alamgir Parvez said that the price has increased by two and a half dollars per maund in the world market and this has affected the wholesale market. He said that the price of palm oil in the domestic market also fell to Tk 3200-3500 per maund due to the reduction in the price of edible oil in the global market.
