The prices of rice, different types of vegetables, green chilli, potato and coarse flour increased in the last week while the prices of all kinds of edible oil also increased by Tk 4-5 per litre.

A TCB high official said the TCB will launch open market sale (OMS) of the imported soyabean oil through its dealers.

Oil traders said the increase in oil prices on the international market is one of the main reasons for the hike here. They said supply of edible oil to the local market has also been less than the demand because of decreased oil import.

They feared that the prices of edible oil will further increase if the government does not reduce the tax on oil import.

Soyabean oil, which sold at Tk 70 per litre a week ago, is now selling at Tk 75. The price of palm oil also increased by Tk 5 per litre, according to Hatirpool kitchen market sources.

"Today we have floated tender for importing 3,000 tonne soyabean oil," TCB Director Mokhlesur Rahman told The Daily Star yesterday.

Of this, 2,500 tonne will be bought from the international market and 500 tonne from the local market.

"After completion of the import, we will launch OMS for soyabean oil through our dealers," the TCB director said. Oil prices will come down after the OMS starts, he added.

Earlier, the TCB floated tenders twice for importing soyabean oil but no one took part in those tenders.

Oil traders at the Moulavibazar wholesale oil market in the city, however, said oil prices will not decrease until the prices come down internationally.

"Two months ago, crude palm oil sold at US$350 per metric tonne on the Malaysian market, but the price is $587 at present," said Abul Hashem, general secretary of Bangladesh Wholesale Edible Oil Merchants Association.

"The price of crude soyabean in Brazil or the US was $515-520; the price has increased at present to $800," he added.

"Oil supply to the market is also very low because importers are not opening LC [letters of credit] for importing oil as the government is not taking decision whether or not to lessen the duty on oil import," Abul Hashem said.

"We urged the government to curtail the amount of duty imposed on imported oil and to impose a specific duty," he said.

Soyabean oil sold at Tk 70.50 per litre yesterday, but the price was Tk 68.20 last week, said oil traders at Moulavibazar. Palm oil sold at Tk 62.20 per litre yesterday while the price was Tk 60.50 last week.

PRICES OF RICE AND OTHER ESSENTIALS INCREASE
Swarna rice sold at Tk 22 per kg at the Hatirpool kitchen market yesterday; the price was Tk 21 last week.

The prices of other types of rice also increased by Tk 1-2, said traders at the market.

Potato sold at Tk 17 per kg yesterday while the price was Tk 15 a week ago.

The price of green chilli increased by Tk 20-25 per kg while the prices of aubergine, okra, tomato, coarse flour also increased by Tk 1-2 per kg.

Sellers said the prices of the produce increased as there was a lack of supply ahead of the Bangla New Year.