Tridge summary
Soybean oil prices have increased for the fourth time this year, leading to a retail price of Tk160 per liter in Bangladesh. This decision, made by the Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association in consultation with the commerce ministry, is due to rising international prices. Other products such as loose soybean and 5 liters bottled soybean have also seen price increases. The country, which needs 20 lakh tonnes of edible oil per year, meets 95% of this demand through imports.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Traders hiked soybean oil prices Tuesday for the fourth time this year thanks to spiralling rates of the item in the international market. Customers will have to pay Tk160 per liter of bottled soybean oil in retail, according to the new rates to be effective immediately as determined by the Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association. In the face of edible oil price hikes in the international market, the association said it has set the new prices after talking to the commerce ministry. As per the new rates, the price of one liter bottled soybean oil has increased from Tk153 to Tk160, loose soybean from Tk129 to Tk136 and 5 liters bottled soybean from Tk728 to Tk760. Besides, palm oil prices have been fixed at Tk118 per liter. Earlier on 15 October, bottled soybean oil prices were hiked by Tk4. However, traders at the time said that the rates had been adjusted with the Tk4 fall before Eid-ul-Fitr. On 27 May 27, oil prices were increased by Tk9 per liter. ...
Source: TBS
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