News Desk :
Tk12 has raised the price of soybean oil per litre following the price hike in the international market.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association made the announcement of price hike on Sunday.
The association has sent a letter, signed by its Secretary Md Nurul Islam Molla, to Bangladesh Trade and Tariff Commission on Sunday.
Customers will have to pay Tk180 per litre of bottled soybean oil in retail, according to the new rates to be effective from 1 March as determined by the association.
The price of litre loose soybean oil is fixed Tk143 and 5 litres bottled soybean at Tk870.
Besides, palm oil prices have been fixed at Tk150 per litre.
According to the manufacturers, oil prices in international market crossed $1,400 per tonne at the beginning of this month.
The oil refiners and manufacturers association said the price of soybean oil in the international market has risen to $1700-1725 per tonnes in last 20 days. That is why the companies are claiming that if the price is not increased, they will have to induce huge losses.
