The price of soybean oil has risen by Tk 7 a litre. The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association informed the commerce ministry of this today. Soybean oil will now sell at Tk 160 a litre, up from the current Tk 153.

In a press release, the association said the new price takes effect immediately but will not apply to old stocks held by distributors and retailers.

On 17 October the commerce ministry gave initial consent to a proposal to raise edible oil prices again, citing higher prices on the international market. The association then set the new price after discussions with the Bangladesh Trade and Tariff Commission and the commerce ministry.

Source: Bonik Barta. First published in Bengali on The Agro News.