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Bangladesh government has set the prices of edible oil for a second time, raising them by Tk 2-6 a litre from the previous prices.
A national committee on marketing of essential commodities, headed by commerce secretary Md Jafar Uddin, set the prices of edible oil in a meeting held on Sunday as refiners proposed that the government should review the prices of the essential commodity in line with the prices on the international market.
Cabinet secretary Khandker Anwarul Islam was also present at the meeting held at the conference room of the commerce ministry in the city.
The meeting has set the maximum retail price of a one-litre bottle of soya bean oil at Tk 139 a litre and the price of five litres of packaged soya bean oil at Tk 660.
The price of unpackaged soya bean oil has been set at Tk 117 a litre and that of super palm oil at Tk 109 a litre.
Earlier on February 17, the government set the retail price of edible oil for the first time amid continuous price hikes of the commodity on the local market.
In a press briefing held at the time, commerce minister Tipu Munshi announced that the maximum retail price of a onelitre bottle of soya bean oil was set at Tk 135 a litre, that of five litres of packaged soya bean oil at Tk 630, that of unpackaged soya bean oil at Tk 115 a litre and that of super palm oil at Tk 104 a litre.
The national committee on marketing of essential commodities comprising of senior government officials and business representatives on Sunday discussed that the prices of edible oil had been maintaining an upward trend on the international market since July 2020 and the freight on board price of soya bean oil had risen to $1,275 a tonne and that of palm oil to $1,037 a tonne.
Against the backdrop of price hikes of the essential commodity, the government has been working to ensure adequate supply of edible oil for the consumers at reasonable prices during Ramadan, the meeting discussed.
The committee also discussed to set a rational rate of value added tax on import of edible oil to protect the interests of consumers.
According to the meeting minutes, the national committee was meeting on a regular basis to evaluate the situation on the market and the maximum prices of edible oil for retail, distribution and the millgate level were set in the interests of both the consumers and the refiners.
The price of a one-litre bottle of soya bean oil has been set at Tk 134 at the distribution level and at Tk 130 at the mill gate.
The price of five litres of packaged soya bean oil has been set at Tk 640 at the distribution level and at Tk 620 at the mill gate.
The price of unpackaged soya bean oil has been set at Tk 115 a litre at the distribution level and at Tk 113 a litre at the mill gate.
The price of super palm oil has been set at Tk 106 a litre at the distribution level and at Tk 104 a litre at the mill gate.
According to the Trading Corporation of Bangladesh, the prices of soya bean oil had increased by 35 per cent and that of palm oil by 44 per cent in the last one year.
A one-litre bottle of soya bean oil sold for Tk 130-140 while five litres of packaged soya bean oil sold for Tk 610-620 in the city markets on Monday, TCB data said.
