• Financial

The price of edible oil increased by Tk. 8 per liter

  • Financial
  • 08 February, 2022 10:40:43

Photo: Collected

News Desk: The price of edible oil has gone up again. At the same time it has increased by 7 rupees per liter. Customers will have to buy soybean oil at Rs 106 per bottle from Monday (February 6).

This is known after visiting different markets of the capital from Monday morning.

Mirpur 11 market oil trader in the capital. Rahim said that there is no other way but to increase the price in the country's market due to the abnormal rise in prices in the world market. If the government reduces taxes, it is possible to reduce oil prices.

Shahadat Hossain, an oil seller in Kalshi Bazar, said that the sale of oil has started declining again due to the increase in the price of oil. Earlier, the buyer used to take five liters of oil, now he is taking one liter.

TK Group Director of the leading oil import and marketing business. Athhar Taslim said, "We had offered Rs 162 per liter on November 16. Approval has now been granted after repeated petitions. The price of edible oil is much higher in the international market.

"When we offered the price of oil at Rs 182 per liter, the price of crude soybean in the international market was হাজার 1,260 per tonne," he said. Now that price has risen to ৪ 1,440. There is a three-tier value added tax (VAT) on edible oil. If the price increases in the world market, the revenue income of the government increases.

Razia Sultana, a resident of the capital's rural area, said commodity prices were rising unimaginably. The middle and lower middle class people are constantly struggling to make ends meet. The way oil prices are rising, ordinary people will not be able to cook with soybean oil in future.

Earlier, the price of edible oil has risen in the country since the end of 2020. In October of that year, the price of a five-liter bottle was 505 to 515 rupees, which has now risen to 695 rupees. Prior to this, the price of bottled soybean oil had gone up by Tk 6 per liter to Tk 180 in October. According to the new price, the price of a five-liter bottle of soybean oil will be increased by Tk 30 to Tk 795, open soybean oil from Tk 136 to Tk 143 per liter and open palm oil from Tk 118 to Tk 133 per liter.

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