Application to the ministry to increase the price of edible oil

Business Hour Desk: Bangladesh Vegetable Oil Refiners and Bonaspati Manufacturers Association has applied to the Ministry of Commerce to increase the price of edible oil. The organization has appealed claiming that it has to buy dollars at a high price.

On Thursday (November 9), the executive officer of the organization. The application signed by Nurul Islam Mollah was sent to the senior secretary of the Ministry of Commerce.

It said that the dollar conversion price of our edible oil imports has currently stood at Tk 124 from Tk 112. Earlier, when the Bangladesh Trade and Tariff Commission fixed the price of edible oil, the dollar conversion price was fixed at Tk 111. Where currently we have to pay 122 to 124 taka against 1 dollar.

Therefore, the organization has requested to adjust the price of edible oil taking into account the value of the dollar.

Earlier, on September 14, the price of edible oil was reduced in the international market, and the price was also reduced in the domestic market. On that day, Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association said in a press release that the price of edible oil in the country has been reduced due to the reduction in the price of edible oil in the international market. As a result, the price of bottled soybean oil has been reduced by Tk 5 to Tk 169 and the price of 5 liter bottled soybean oil has been reduced to Tk 825. Besides, the price of open palm oil has been reduced by Tk 4 to Tk 124 per liter.

This price is implemented in the market from September 17.

Business Hours/AHA