MANAGING THE EDIBLE OIL MARKET FOR CONSUMER BENEFIT IN BANGLADESH
Keywords:EDIBLE OIL MARKET
Edible oil is one of the many daily essential commodities in the market. Annual demand is about 1.3 million MT. Approximately 75% of the consumer demand is met with Palm Oil and 25% with Soya bean oil. But household consumers, the largest consumer segment in the edible oil market, disclosed that they buy Soya bean oil, not Palm oil for their daily cuisine. This study revealed that customers in the loose oil market are prone to be defrauded by sellers in the wholesale or retail market. Consumer demands, Soya bean or Palm oil, are met through import. Import dependent edible oil market at times become volatile and surely during special occasions like Ramadan. In a market there are different forces to act and react. But they should not be and cannot be left at their will. Government has the responsibility of regulatory management of the market. There are different government apparatus with deﬁned task and jurisdiction to contribute in managing the edible oil market. There are persistent weaknesses in the government machinery which needs improvement. This study attempted to examine the system that government is managing the edible oil market and the options, if any, to improve market management for consumer beneﬁt in Bangladesh.
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