Bangladesh : Govt under pressure to raise edible oil prices
Bangladesh’s vegetable oil refiners have requested the government to raise packaged soybean oil prices by Tk 10 per litre, citing higher global prices and transport costs. The proposal, rejected in July, is now under review after the government last increased soybean oil prices by Tk 4 per litre in April.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has urged the government to approve another price hike for edible oil due to higher prices in the international market and rising cost of transportation.
A proposal letter was sent to the minister where the association requested to raise the price of packaged soybean oil by Tk 10 per liter in July. The Ministry of Commerce did not approve the move amid an ongoing review of global market trends.
However, this time, the Ministry is assessing situation to approve the price hike.
Previously, the government had increased prices for soybean oil by Tk 4 per liter in April, while palm oil prices remained unchanged. One liter soybean oil price increased to Tk 199 from Tk 195 and five liter bottles were sold for Tk 975, which was around Tk 955.
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Source : The Daily Observer
