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Local refiners have frequently been pressing the government to increase edible oil prices as they are facing losses due to their international prices.
They have requested the government to protect the edible oil industry through holding discussion with them urgently.
The Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association (BVORVMA) has requested the commerce ministry for adjustment for soybean and palm oil prices.
They claimed that the price of the item has been increasing in the global market gradually. Besides, the central bank has fixed the dollar price and increased bank loan interest.
They pointed that edible refiners did not increase the prices of cooking oil at the request of the state minister for commerce with an eye to keeping the essential prices at an affordable level during the last Eid-ul-Azha.
In the present context, the BVORVMA has requested the commerce ministry to take next course of action urgently for readjusting the prices on June 23, 2024, but the ministry did not inform to the BVORVMA.
For this, the edible oil industry unite have been facing losses, they also claimed.
When contacted, a senior official of the commerce ministry said, "We have received a request from the edible oil refiners and we are working on the issue. But, No decision has taken yet."
"Following the dollar price, we have urged a review in the prices of edible oil. Besides, the soybean price has also been increased in the global market," sector insiders said.
In the last month, the soybean oil prices in the international market have been hiked around $40 to $ 50.
On April 18 last, refiners raised soybean oil price by Tk 2.0 to Tk 4.0 a litre.
The price of bottled soybean oil has been set at Tk 167 a litre from Tk 163 earlier. The retail price of loose soybean oil has been set at Tk 149, marking a surge of Tk 2.0 per litre.
The retail price of the five-litre bottled soybean oil has been raised to Tk 818 from Tk 800. The maximum price of palm oil has been fixed at Tk 135 a litre.