Edible oil price to rise to Tk 160 a litre from tomorrow

The commerce ministry today gave go-ahead to the refiners' proposal of hiking prices of edible oil by Tk 7 per litre with effect from tomorrow.

The price of each one-litre bottle of soybean oil will be Tk 160, up from the current rate of Tk 153, said AHM Shafiquzzaman, additional secretary to the commerce ministry.

The price of edible oil has been increased mainly because of the price hike of crude soybean and palm oil in the international markets.

Shafiquzzaman said the refiners proposed for fixing the price at Tk 168 per litre, but it was fixed at Tk 160 after a lot of discussion.

The retail price of loose soybean oil is fixed at Tk 136 per litre, according to a statement from the Bangladesh Vegetable Oil Refiners and Bonospoti Manufacturers Association.