Though prices of daily essentials are beyond the purchasing capacity of poor and low-income people, consumers have to pay more now for buying one liter of edible oil. In a statement on Tuesday, Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association said the price of unbottled soybean oil has been set at Tk 136 per liter, and bottled products at Tk 160 -- a Tk 7 hike per liter. For a 5-litre bottle, a customer will have to pay Tk 760 as the revised prices will be effective on new supplies from now. Traders proposed a hike in edible oil prices to the commerce ministry in September. The price of soybean oil price was unchanged, with a 5-litre bottle costing Tk 728 at the time. But the price of palm oil was raised to Tk 116 per litre from Tk 112. Now, the price of palm oil has been set at Tk 118 a liter.
The association leaders met the ministry officials again on Sunday, requesting another hike as the retailers were selling soybean oil at higher prices than those fixed last month, citing a rise in prices in the international market.