The price of edible oil is increasing

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Yesterday, the price of edible oil (Soya bean) in different market was Tk. 88 to Tk.92 (loose) per litre.

According to tariff commission the price should be Tk.80 as the price of a ton of Soya bean is 895 USD or Tk.62.20 per litre which after expenses and profit stands at Tk.80, but the market price is TK.10 to Tk.12 high.

Similarly, the price of palm oil is 811USD per ton which after all the cost & profit should be sold at Tk.72 to Tk.74 per litre. But, the market price is Tk.10 to Tk12 high.

The annual consumption of edible oil is nearly 1 Lac.Ton to1 and a quarter Lac. Ton. The local production of mustered oil is very low as a result Bangladesh has to import edible oil mainly from Malaysia and Indonesia.

At present there is no scarcity of edible oil

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