Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Shortly after industrial gas-price hike, edible oils get costlier yet as the government raised the maximum retail price (MRP) of soybean and palm oils.
Bottled soybean-oil price rises by Tk 14 a litre to Tk 189. The rate was Tk 175.
Loose soybean-and palm-oil MRP has been increased by 12 to Tk169 from Tk 157 a litre.
The latest hike ramps up the rate of five-litre bottled oil to Tk 922 from Tk 852.
Commerce adviser Sheikh Bashir Uddin of the interim government announced the new pricing decided at a meeting with local refiners and edible-oil traders at the secretariat Tuesday.
Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association (BVORVMA) had urged the commerce in recent months to adjust soybean-and palm-oil prices frequently-for reasons not convincing to consumer-rights campaigners.
The adviser admitted to inquisitive reporters that the price increase would "put consumers in a bit pressure".
Market of the import-dependent oil is frequent turned volatile-in the latest instance, soybean oil disappeared from shops recently that resulted in unofficial price spikes.
Bangladesh's annual demand for edible oils is 2.5-3.0 million tonnes, with over 95 per cent met with imports. In FY24, the country imported around 2.3 million tonnes of non-refined edible oils, said the commerce ministry.
rezamumu@gmail.com