Price of edible oil is increasing

The price of loose soya bean oil has risen to more than Tk 7 a kilogram over less than a week as the relatively cool weather has made consumers prefer soya bean oil to palm oil, which thus has been losing market.

The present price of crude soya bean oil on the international market is a little more than $1,100 a tonne, which forces its wholesale price to stand at around Tk 3,600 a maund, according to the oil-millers.

On Tuesday the wholesale rate of soya bean oil was Tk 90.60 to Tk 91.15 a kg while the grocers in the city retailed it at Tk 96 to Tk 98 per kilo, up by Tk 4 from one week ago.

Usually the demand for oil increases as the winter approaches nearer, as adulteration can not be done. It is because palm oil condenses in cold weather and the retailers can no more claim palm oil or mixtures of palm oil and soya bean oil to be pure soya bean oil to customers

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