The government has not raised the prices of edible oils, confirmed Trade Adviser Sheikh Bashiruddin. On Tuesday (October 14), while speaking with journalists at an event in Purbachal, Dhaka, he stated that traders do not have the authority to increase prices without the ministry’s approval. He also warned that the government would take necessary measures if any abnormal price fluctuations occur.
Earlier, on October 13, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association had issued a press release announcing a price hike for edible oils. According to their announcement, the price of bottled soybean oil increased by 6 Taka per liter to 195 Taka, loose soybean oil rose by 8 Taka to 177 Taka, and a 5-liter bottle of soybean oil was increased by 23 Taka to 945 Taka. Additionally, the price of palm oil per liter was raised by 13 Taka.
However, on Tuesday, observations in various markets of Dhaka showed that soybean oil was still being sold at the previous prices. News of the price hike has caused dissatisfaction among consumers.