Sk Bashir Uddin says bottled oils are unnecessarily pricier

Edible oil prices have been rising over the past week in the local market, as grocers say they are not getting enough supplies from the cooking oil companies.  

Despite a decision by the interim government to hike soybean oil prices nearly three weeks back, many kitchen markets across Bangladesh, including the capital Dhaka, are missing an adequate supply of the key cooking ingredient.

Many consumers said they are still not getting bottled soybean oil in kitchen markets in various parts of the country including Dhaka despite the government allowing refiners to hike prices of the essential cooking ingredient two days ago.

But cuts loose soybean oil price by Tk 2 a litre

They want to sell soybean oil at Tk 173, loose palm oil Tk 132 and five-litre cans at Tk 845

Refiners have reduced the price of one litre bottles of soybean oil by Tk 10 to Tk 179.

This did not happen by chance, but because of poor governance

The retail prices of palm and soybean oil have been reduced by Tk 5 a litre in the country.

Soybean oil prices may go up as Bangladesh Tariff Commission (BTC) is considering a proposal for hiking edible oil prices due to higher production costs.

Edible oil processors in Bangladesh have proposed the government raise the price of soybean oil by Tk 20 per litre, according to processors and officials of the Bangladesh Trade and Tariff Commission (BTTC).

The prices of edible oil may decline in the domestic market of Bangladesh soon as the prices are falling in the international markets, said Senior Commerce Secretary Tapan Kanti Ghosh today.

Saudi Arabia, the world's top oil exporter, raised July crude oil prices for Asian buyers to higher-than-expected levels amid concerns about tight supply and expectations of strong demand in summer.

Edible oil prices may come down soon in the local market of Bangladesh on the back of the downturn trend in prices in the international market, Commerce Minister Tipu Munshi said today.