Soybean, palm oil prices rise despite govt rejection of hike

The government has rejected a proposal by traders to raise the price of soybean oil by Tk 10 per litre, triggering fresh unrest in the market. Wholesalers and retailers said the official price of oil remains unchanged. However, suppliers have reduced their commission, creating a supply shortage that is pushing prices up. As a result, the prices of loose soybean oil and Super Palm Oil have increased in the market. Over the past three to four days, both items have gone up by around Tk 5 per litre. The information came on Thursday (25 September) morning after visits to several shops and markets in Rampura and Malibagh areas of Dhaka and conversations with traders. Recently, the Bangladesh Vegetable Oil Refiners...