Soybean oil price won’t be hiked before Ramadan: Commerce minister
Tipu Munshi also requested the traders to tolerate the rising prices in the international market for the time being
The government will not hike the price of soybean oil before Ramadan, Commerce Minister Tipu Munshi has said.
The minister made the statement while replying to a query from reporters at a programme in the capital on Monday.
He was attending the "International Investment Summit 2021" organised by Bangladesh Investment Development Authority (BIDA) at Hotel Radisson Blu Water Garden, Dhaka.
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Tipu Munshi also requested the traders to tolerate the rising prices in the international market for the time being.
Earlier on 27 February, Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced a Tk12 hike of the edible oil price.
The association, in a letter, informed the Bangladesh Trade and Tariff Commission about the price hikes.
Earlier on 6 February, the prices of soybean oil were increased by Tk8 per litre and palm oil by Tk15 per litre.
According to the association, the price of a tonne of unrefined soybean oil increased to $1,700 in the international market, which was $1,400 early this month.
