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Govt urged to raise soyabean oil price by Tk 20 a litre

Edible oil importers of the country have proposed the government to increase soyabean oil price by Tk 20 per litre.

Bangladesh Vegetable Oil Refiners and Vegetable Manufacturers Association (BVORVMA) made the proposal to the Bangladesh Trade and Tariff Commission on August 3.

It was stated in the proposal that the price of unpacked (loose) soyabean oil be raised to Tk 180 a litre, while Tk 205 for a one litre bottled soybean oil and Tk 960 for a five-litre bottled soyabean oil.

Mustafa Abid Khan, a former member of the Tariff Commission, said when the price of edible oil was earlier adjusted, the dollar price was taken into consideration. As much of the price in the world market fell, the price in the country was not lowered accordingly.

He said the proposal  could be reviewed now.

“However, it should be kept in mind that people are under pressure due to the increase in the prices of commodities. The increase in fuel prices will further increase the pressure,” he said.

Along with the price hike proposal, the BVORVMA has also provided a breakdown of the cost.