Improved supply and increased competition will help bring down prices soon, he says

Retailers and wholesalers in markets around Chattogram are selling soybean oil at prices exceeding the government-fixed retail prices, which was to be effective from March 1.

A litre of soybean oil will be Tk 163, down from the existing Tk 173

Edible oil refiners said today that soybean oil price would be cut by Tk 10 a litre from March 1 to pass on the benefit of reduced duty and value-added tax to consumers

Each litre will cost Tk 130.16

For any major crop, there are local and national profiteers, who make plans to maximise profits way before the crops land in the markets.

Consumers’ right body DG says at ERF event

Sales will begin tomorrow

Meghna Edible Oil Refinery Ltd has won a Tk 189 crore contract to supply soybean oil to the state-run Trading Corporation of Bangladesh (TCB), according to a decision of the cabinet committee on government purchase today.

The government today extended the reduced 5 per cent value-added tax on edible oil for another three months to continue the relief for consumers from the indirect tax burden.

The government yesterday hiked the price of soybean oil for the fourth time this year even though the price of the product in the international market held steady in the past month.

The government will buy 1.25 crore litres of soybean oil for the state-run Trading Corporation of Bangladesh (TCB).

When Farid Uddin planted sunflower, sesame and groundnut on his 80-decimal land, he had no idea that prices of edible oil would skyrocket.

An annoyed Shovon Das was walking home with a five-litre bottle of soybean oil from Shaheb Bazar in Rajshahi city yesterday afternoon. He had paid Tk 985 for it even though the government set the price at Tk 760.

Police in a raid seized 92,616 litres of edible oil illegally stored at four warehouses and a truck at Baneshwar Bazar of Rajshahi's Puthia upazila today (May 10, 2022).

The Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association today said it will take action against the dealers if their involvement is found in creating an edible oil crisis.

The Trading Corporation of Bangladesh (TCB) will resume selling soybean oil at Tk 110 a litre to one crore TCB cardholder families from next month, Senior Commerce Secretary Tapan Kanti Ghosh said yesterday.

The Trading Corporation of Bangladesh (TCB) will resume selling edible oil at Tk 110 a litre to one crore TCB cardholder families in June, Senior Commerce Secretary Tapan Kanti Ghosh said today.

Bottled and non-bottled soybean oil, which went out of stock at most shops about a week ago, remained unavailable in almost all the grocery stores yesterday, a day after the price of the essential cooking ingredient saw a record hike.