Processors hike edible oil prices again

Processors have hiked edible oil prices to Tk 153 per litre, over a 6 per cent increase from the current price.

Now, consumers will have to pay Tk 9 more than the existing price of Tk 144 to buy a litre of branded canned soybean oil.

As per the new rate, the price of five-litre branded bottled soybean oil has been fixed Tk 728, Tk 43 up from the current price of Tk 685, while the price of loose soybean oil at Tk 129 per litre, Tk 7 up from the existing price rate.

However, the price of loose palm oil has been reduced to TK 112 per litre from Tk 113.

The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association fixed the new price rate in consultation with the commerce ministry, the association said in a press release today.

The new price will be implemented from Saturday, said Biswajit Saha, director for corporate and regulatory affairs at City Group, told The Daily Star.

The decision of the fresh hike came this evening, just 10 days after the edible oil refiners increased the prices of the daily essential commodity to Tk 144 per litre from Tk 141.