Bottled soybean oil price rises by Tk 5 a litre

The price of bottled soybean oil has been increased by Tk 5 a litre to Tk 204. Until now it was sold at Tk 199 a litre. 

Prices of unprocessed soybean oil and palm oil remain unchanged.

The decision was taken at a meeting with traders at the Ministry of Commerce on Wednesday. 

Commerce Secretary Md Ataur Rahman Khan briefed reporters at the ministry afterwards.

He said the government had adjusted the price of soybean oil, raising bottled oil from Tk 199 to Tk 204 a litre. Unprocessed soybean and palm oil prices would stay the same.

Edible oil prices have risen on the international market and transport costs have also increased, prompting importers to seek a rise. Traders had pressed for a larger increase, while the Bangladesh Trade and Tariff Commission recommended a Tk 10 a litre rise.

The secretary said there was no current shortage of edible oil and the government had adjusted the price in light of the situation. 

Asked whether prices might rise again before Ramadan, he replied that it would depend on market conditions at the time.

On whether the oil price rise, following the recent increase in sugar prices and the new salary structure, would affect inflation, he said there was a possibility of some impact, but the government was taking various measures to keep inflation in check.