The Ministry of Commerce has increased the price of edible oil in the local market ahead of Ramadan, citing the rise in prices in the international market.
The decision was taken in a meeting of the ministry's National Committee on Essential Commodities on Monday, said a press release.
According to the decision, the price of loose soybean oil at the mill gate has been fixed at Tk 113 per liter from Tk 107. The price of bottled soybean oil has been fixed at Tk 127 per liter at the mill gate, Tk 131 at the dealer level and Tk 139 at the retail level.
The 5 liter bottle has been fixed at Tk 620 at the mill gate, Tk 640 at the dealer level and Tk 660 at the retail level. Apart from this, the price of loose palm oil has been fixed at Tk 104 per liter at the mill gate, Tk 106 at the dealer level and Tk 109 at the retail level.
Earlier on February 17, the price of bottled soybean oil was fixed at Tk 123 per liter at the mill gate, Tk 127 at the distributor level and Tk 135 at the retail level in a meeting of the National Committee on Essential Commodities. The price of 5 liter bottled soybean oil was fixed at Tk 585 at the mill gate, Tk 600 at the distributor level and Tk 625 at the retail level.
According to Commerce Ministry sources, due to the instability in the prices of crude soybean and palm oil in the international market, the National Committee conducted a meeting with a view to adjusting the local price according to the international market considering the interests of the country's refining mills and consumers.
