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Tipu hints at reducing price of edible oil

Staff Correspondent
10 Sep 2022 17:32:48 | Update: 10 Sep 2022 18:38:53
Tipu hints at reducing price of edible oil

Commerce Minister Tipu Munshi on Saturday said that the price of edible oil may come down again in the country in October as the price of the key cooking ingredient has dropped on the global market.

“The prices of different commodities, including edible oil, have declined on the international market. But, we cannot avail of the opportunity due to the increased rate of the American greenback,” he said while exchanging views with the reporters at his Rangpur residence.

“But the good news is that we will soon sit with the Bangladesh Trade and Tariff Commission and take steps to adjust the oil prices.”

ALSO READ - Soybean oil price goes up Tk7-9

The minister said that if the dollar rate is settled, the prices of the essentials will reduce in the local market.

Earlier on August 23, local refiners hiked the prices of bottled soybean oil by Tk 7 to Tk 192 per litre while loose soybean oil by Tk 9 to Tk 175 a litre.

They also raised the price of a five-litre bottle of soybean oil to Tk 945 from Tk 910.

Besides, the price of palm oil was increased by Tk 7 to Tk 145 a litre.

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