Bangladesh government rejects traders’ hike in edible oil prices

ByEnigma 808

Commerce Adviser Sheikh Bashir Uddin stated on Tuesday that traders had raised edible oil prices without government approval, which is outside their authority. He emphasized that the government has not increased the prices and did not grant traders permission to do so.

Bashir Uddin warned that if price discrepancies continue, the government will take action. On Monday, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association claimed they had consulted the Ministry of Commerce and set new prices based on international rates. However, Bashir Uddin clarified that the ministry did not approve these price changes.

Under the new prices, bottled soybean oil rose by Tk6 per litre to Tk195, loose soybean oil increased by Tk8 to Tk177, and a 5-litre bottle of soybean oil now costs Tk945 after a Tk23 hike. Loose palm oil went up by Tk13 per litre to Tk163.

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  • Enigma XO avatar (80x80)

    Besides writing and being a content creator, Enigma 808 sometimes likes to watch paint dry on walls, listening to ASMR while timing snails racing. Such is life.