Soyabean oil price hiked by Tk 38 per litre

The price of soybean oil will go up by Tk 38 per litre from Saturday.

The decision to increase per litre soybean oil to Tk 198 from the existing Tk 168 has been taken at a meeting of mill owners with the secretary of the commerce ministry.

Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, the association which refines and manufactures refined oil, has fixed the new price following the meeting.

According to a circular of the organisation following the meeting, a 5-litre bottle of the soyabean oil would be Tk 985 from the existing Tk 760.

The price of per litre open soyabean oil will increase to Tk 180 per litre from Tk 136 and open palm oil would be sold at Tk 172 per litre from the existing Tk 130.

The association’s meeting with the commerce secretary started at 3:00pm. Representatives of oil refiner companies were also present at the meeting.

The circular said there is an upward trend in the prices of unrefined soyabean and palm oil in the international market.