The government has decided to increase the prices of soyabean and palm oil following the price-hike proposal from traders. But it has not been finalised how much the price will be increased.
The decision to hike the oil prices was taken at a meeting at the Secretariat on Monday with Commerce Adviser Sk Bashir Uddin in the chair. After the meeting, the commerce adviser refrained from making any comment about the oil price hike.
Commerce Secretary Mahbubur Rahman told reporters that the oil price hike proposed by traders is significantly higher than the current rates on the international market. “We are reviewing the matter and will finalise the decision after further discussions with traders,” he said.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has proposed an increase of Tk 10 per liter for both soya bean and palm oil, citing the rise in international prices.
Earlier on April 13, the retail price of soyabean oil was set at Tk 189 per litre, while palm oil was priced at Tk 169 per litre. Bangladesh Trade and Tariff Commission is working to ensure any adjustment in edible oil prices.
