Soybean oil price up Tk8 per litre, palm oil Tk15
On 19 October last, the Bangladesh Edible Oil Refining and Vegetable Growers Association increased the price of bottled soybean oil by Tk7 to Tk160 per litre
Soybean oil companies have been selling oil at higher prices in the domestic market for almost two weeks due to a price hike in the international market and the Ministry of Commerce has approved the increased price.
The ministry has approved an increase of Tk8 per litre in bottled soybean oil.
According to the new price, bottled soybean oil has been increased from Tk160 to Tk168 per litre and unbottled soybean price rose by Tk7 to Tk143. Prices of a five-litre bottle have gone up Tk35 to Tk795.
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At the same time, the price of palm oil was hiked by Tk15 to Tk133 per litre.
On 19 October last year, the Bangladesh Edible Oil Refining and Vegetable Growers Association increased the price of bottled soybean oil by Tk7 to Tk160 per litre.
At that time the price of crude soybean oil in the international market was $1,250-1,300 per tonne, which is almost $1,400 now. That is why oil marketing companies have been selling oil at higher prices for some time now.
