The price of edible oil in the local market has been increased. The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has announced that the new prices will come into effect from Monday.
According to the notice, the prices have been adjusted in consultation with the Ministry of Commerce, in line with the international market.
New Prices (per litre)
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Bottled soybean oil: Increased by Tk 6 to Tk 195
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Loose soybean oil: Increased by Tk 7 to Tk 176
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Palm oil (loose): Tk 166 per litre
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5-litre bottled soybean oil: Increased by Tk 33 to Tk 965
Commerce adviser Sheikh Bashiruddin had earlier said that visible action would be taken if traders committed any punishable offence by increasing prices without prior notice. He said, “Even if traders raise prices, the government was not informed beforehand. The previous prices should have been maintained, and action could have been taken in certain cases.”
The adviser further said, “If there is a logical reason for increasing prices, it will be discussed. The government has control, and that will be reflected through its actions.”
Recently, traders increased soybean oil prices at the consumer level without any formal announcement. The newly marketed 5-litre bottles are being sold at Tk 965, up from the previous Tk 922. Besides, the price of bottled soybean oil per litre has been set at Tk 198, although it was previously sold at Tk 189.