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Edible oil price up again

Published : 28 Jan 2022 10:40 PM | Updated : 29 Jan 2022 01:54 PM

Despite commerce minister Tipu Munshi’s announcement, the price of edible oil has gone up again in the country.   

The price of bottled soybean oil has gone up by Tk 5 to Tk 8 per liter. The price of loose soybean oil has gone up by Tk 10. The price of palm oil has also gone up by Tk 10 per kg.

According to the traders, the price of one liter bottle oil has been fixed at Tk 165 to Tk 168, which was earlier Tk 160. The price of a five-liter bottle of soybean oil has been fixed at Tk 785 to Tk 800, up from Tk 760 earlier.

Retailers are now selling loose soybean oil at Tk 155 to Tk 160 per kg, up from Tk 150 to Tk 155 earlier. Palm oil is being sold at Tk 135 to Tk 140 per kg, which was Tk 130 to Tk 135 earlier.

According to kitchen market traders a liter of soybean oil in a new bottle is being sold at a higher price of Tk 5 than before. Bottled price is Tk 165 and they are selling Tk 160. Earlier this oil sold for Tk 155. 

Despite a meeting with Commerce Minister Tipu Munshi on January 19, the traders have raised the price of edible oil. During that meeting, the commerce minister said that the price of edible oil will not increase in the next 15 days. After February 6, it will be decided whether the price of oil will increase or decrease.

Earlier, the Bangladesh Vegetable Oil Refiners and Vegetable Manufacturers Association had sent a proposal to the Commerce Ministry demanding an increase in the price of oil in the international market. Later, the ministry sent it to the Tariff Commission for verification and selection.

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