Govt hasn’t increased edible oil prices: Commerce Adviser

Commerce Adviser Sk Bashir Uddin has said that the government has not increased the price of edible oil. He made the remarks on Tuesday (October 14) while speaking to journalists at an event in Purbachal, Dhaka, regarding the rising prices of soybean and palm oil.

Meanwhile, on Monday, traders announced a price hike of bottled soybean oil by Tk 6 per litre. Palm oil prices were also increased by Tk 13 per litre, and loose soybean oil prices went up by Tk 3 per litre, according to a press release by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association.

In August, traders had proposed raising soybean oil prices by Tk 10 per litre, but the Ministry of Commerce allowed only a Tk 1 increase. Dissatisfied, the traders did not issue a press release following the government’s instructions.

After holding a new meeting with the Ministry of Commerce on Monday, the traders decided to raise the prices. However, the next day, the Commerce Adviser clarified that the government has not approved any increase in edible oil prices.