Bangladesh: Edible oil price hike under review: govt finalising per litre surge

Trade and Tariff Commission (BTTC) with reviewing the matter. The Ministry of Commerce is now finalising the exact per-litre price adjustment. BTTC chairman Moinul Khan, commerce secretary Mahbubur Rahman, and members of the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association were present in the meeting. After the meeting, neither the adviser nor refinery owners disclosed details to the press. Speaking to Prothom Alo last night, Commerce Secretary Mahbubur Rahman said, “The factory owners’ proposed hike is far higher compared to the international market. We are reviewing it. Prices will likely go up, but the exact increase per litre is being calculated.” Factory owners have proposed raising both soybean and palm oil prices by Tk 10 per litre. As the reason, they told the Ministry of Commerce that the international price of soybean oil has already reached as high as US $1,200 per tonne. Refinery owners have recently sent a letter to the Ministry of Commerce ...