Government has not hiked edible oil price: commerce adviser

Commerce Adviser Sk Bashir Uddin has clarified that the government has not increased the prices of edible oil.

He made the clarification through a statement today.

Speaking to journalists at an event in Dhaka, the adviser said the recent hike in soybean and palm oil prices was made by refiners, not the government.

Businesses cannot raise prices without ministry approval, and the government will act on any discrepancies, the commerce adviser said. 

Refiners have raised the retail prices of soybean and palm oil by Tk 6 and Tk 13 per litre, respectively, effective from today.

The price of bottled soybean oil has been set at Tk 195 per litre, up three percent from Tk 189 per litre.

According to a press release issued by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association yesterday, the new rates were fixed in consultation with the commerce ministry in line with international market prices.