Printed on Wed Aug 10 2022 5:05:08 PM

Prices of Soyabean Oil Rises Again

National Desk
The edible oil price has increased sharply in the domestic market in the last two days after Indonesia, the world's top palm oil maker announced a commodity ban.

Indonesia announced on Friday a ban on palm oil exports from April 28 in a bid to hinder the soaring domestic price of cooking oil. Notwithstanding, analysts expect the ban to be a temporary one lasting weeks rather than months.

The soybean oil which had been selling at Tk 192-195 per liter in the city, started selling for Tk 200 per liter on Monday, April 25th.

Some areas of the city are not getting oil at higher prices even.

Buyers at Shanti Nagar Bazar complained that shoppers are creating artificial crises to sell oil at higher prices.

A retailer there told Soybean oil at Tk 175 per liter on Sunday morning. In the afternoon on the same day, they bought the same edible oil from the wholesaler at Tk 182 per liter. On Monday morning the same oil the retailer bought at Tk 192 per liter.

An additional secretary of the commerce ministry in an additional charge on import cell said that the Commerce Ministry is working to control the price of edible oil.

The ministry will hold a meeting with business pioneers regarding alternative sources of edible oil to meet the demand for palm oil, he said, maintaining anonymity.

He also hinted that a huge volume of edible oil has been imported or LCs have been opened to import, so there is no reason for a price hike or to worry about shortages.

Voice TV 80/3, VIP Road, Khan Tower, Kakrail
Dhaka-1000, Bangladesh
Phone: +88 02 9338530
© Copyright Voice TV 2022 — Voice TV
A concern of Shapla Media
Latest News