Govt sets prices of edible oil on local markets
The federal government today set the costs of edible oil in the local markets to tame the skyrocketing price in the domestic markets, and also to curb price manipulation by a section of unscrupulous traders.
The new prices will come into effect promptly, Commerce Minister Tipu Munshi said when he was briefing journalists after a gathering with main importers, traders, wholesalers and government high-ups at his secretariat office in Dhaka.
The cost of loose soybean oil has been set at Tk 115 per litre at consumer level, Tk 110 per litre at distributor level, and Tk 107 per litre at the mill gate.
Munshi said value of bottled soybean essential oil has been set at Tk 135 per litre at buyer level, Tk 127 per litre at distributor level and Tk 123 per litre in the mill gate.
Price tag of five litre bottled soybean oil has been set in Tk 630 at consumer level, Tk 610 per litre in distributor level and Tk 590 per litre in the mill gate level.
Price of palm oil has been set in Tk 104 per litre at client level, Tk98 per litre in distributor level and Tk 95 per litre in mill gate, the minister said.
Munshi blamed the purchase price hike of edible essential oil on the international marketplaces and abnormal rise found in transportation costs of things.
The minister also said the cost of edible oil will be revised again after 15 days.
If rates of edible oil drop in the international markets, the costs would also be reduced in the domestic markets.
