The Financial Express

Edible oil prices to be reviewed after 15 days

| Updated: January 22, 2022 09:19:21

Edible oil prices to be reviewed after 15 days

The government would review the prices of edible oil after 15 days as the local refiners have proposed a hike in the rates of the essential item.

"We will monitor the price situation and then consider the possibility of revising the prices," Commerce Minister Tipu Munshi told a press conference on Wednesday, following a meeting with the stakeholders concerned at his secretariat office.

Edible oil importers, refiners, wholesalers, traders and senior officials of the ministry were present at the meeting.

The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORVMA) proposed to increase the maximum retail price (MRP) of edible oil by Tk 8 to Tk 168 per litre.

In response, the minister urged the stakeholders to reduce, if possible, the prices of edible oil before reviewing it based on the local and global market.

The price should not be increased before the next meeting expected to be held on February 06 next, said a senior official, who attended the meeting.

Currently, the bottled soybean oil is being sold at Tk 160 per litre which was earlier fixed by the government through holding discussion with the stakeholders.

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