The government once again reset and raised the maximum retail prices of edible oil today—second time in a month—in an excuse of its spiralling international rates.
The retail price of loose palm oil (super) has been fixed at Tk 109 per litre, up from Tk 104 that was fixed last month. For loose soybean oil it was fixed at Tk 117 per litre, up from Tk 115.
The maximum retail price of branded bottled soybean oil was fixed at Tk 139 a litre, up from Tk 135 while it was reset at Tk 660, up from Tk 630, for each five-litre canned branded soybean oil, according to a statement from the commerce ministry.
On February 17, Commerce Minister Tipu Munshi announced the prices of edible oil for the domestic markets after adjusting those with the international rates.
Today, the national price fixing committee, a body under the commerce ministry, announced the fresh prices in consultation with the importers, millers, wholesalers and trade body leaders.
The price of non-refined soybean oil is $1,275 per tonne in the international markets now while it is $1,037 a tonne for non-refined palm oil, according to the statement.
Bangladesh annually consumes nearly 20 lakh tonnes of edible oil and imports meet 90 per cent of the demand.
