Soybean oil prices increased

Jago News Desk Published: 6 May 2022, 03:40 PM | Updated: 6 May 2022, 05:12 PM
Soybean oil prices increased
File Photo

Bangladesh's edible oil refiners on Thursday increased the price of bottled soya bean oil by Taka 38 a litre to Taka 198 a litre.

Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association in a press release made the announcement yesterday, reports BSS.

It also said that the price of loose or unpackaged soya bean oil has increased by Taka 44 a litre to Taka 180 a litre being effective from today.

When contacted, Commerce Ministry Senior Secretary Tapan Kanti Ghosh said that it became necessary to revise upward the price of soybean oil considering the price hike in the global market.

He also informed that the Ministry is likely to sit with the concerned stakeholders next month in this regard.

The prices of edible oils increased more in the international market after its last revision in March 20 for the local market.

According to the edible oil refiner’s release, the price of a five-litre bottled soya bean oil increased to Taka 985 from Taka 760.

The refiners also increased the price of palm oil to Taka 172 a litre from Taka 130 a litre.

Earlier on March 20 this year, the prices of bottled edible soybean oil were reduced once on March 20 when the bottled oil price was cut by Taka 8 to Taka 160 a litre and the loose oil by Taka 7 to Taka 136.