Bangladesh: Edible oil prices hiked quietly, flour also gets costlier

Other Flour Products

Published Jan 17, 2024

Tridge summary

The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association quietly raised edible oil prices without announcing it, alongside increases in flour and sugar prices. This was attributed to the appreciation of the dollar and complications in the international market. The increase in prices led to shortage and volatility in the market, with some products no longer available in packet form and being sold at higher prices.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Highlights: The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has quietly raised edible oil prices this time, deviating from their usual practice of announcing rate adjustments, whether an increase or decrease. Marketing companies have increased the price of soybean oil by Tk4 per liter without any announcement. At the same time, the prices of flour and sugar have increased by Tk5 and Tk15 per kg, respectively. In addition to soybean oil, flour, and sugar, the prices of several commodities, including rice, broiler chicken, and beef, rose after the national election held on January 7. Retail shops and several superstores in various areas across the capital were seen selling soybean oil at Tk173 per liter, up from Tk169 before the election. A 5-liter bottle is now priced at Tk845, compared to Tk825. While the 5-liter bottles with the increased price arrived in the market before the election, one-liter bottles appeared in the market after the election. ...

Source: TBS