Consumers have to pay more now for buying one litre of edible oil as refiners increased the maximum retail prices (MRP) by Tk 7 per litre.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORVMA) on Tuesday raised edible oil price by Tk 7 per litre to Tk 160 from Tk 153, said a press release.
It said the new rate will take effect tomorrow (Wednesday).
BVORVMA has re-fixed the price of edible oil arguing that the prices of crude soybean and crude palm oil in the global market.
Earlier, BVORVMA discussed the price hike issue with the Ministry of Commerce and the Bangladesh Tariff Commission.
Finally, the Ministry of Commerce and BVORVMA re-fixed the new rate at a meeting held on Sunday last.
From now on, one litre of bottled soybean oil will be sold at Tk 160 against the previous rate of Tk 153.
Besides, a five-litre bottle of soybean oil will be available at Tk 760, which was Tk 728. Apart from this, buyers will be able to buy loose soybean oil at Tk 136 per litre and the bottled palm super oil at Tk 118.
Source: United News of Bangladesh