The government raised the retail prices of soybean and palm oil yesterday amid concerns that this would raise the cost of living.

Traders said that despite the absence of a formal announcement, supply shortages and market speculation are pushing up consumer costs

Sk Bashir Uddin visits and inspects the production activities of Daulatpur Jute Mill in Khulna

But cuts loose soybean oil price by Tk 2 a litre

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

Refiners have cut edible oil and sugar prices by 3 percent or Tk 5 a litre/kilogramme.

The rates will be effective from tomorrow

The government must implement economic policies that deal with the ongoing crisis

The government today reduced the retail price of bottled soybean oil by Tk 14 to Tk 185 a litre, down by 7.03 per cent from the Tk 199 per litre thanks to its declining global prices.