Edible oil prices surge amid talks with commerce ministry

Wholesale and retail prices of key edible oils have risen sharply in Bangladesh, with soybean and palm oil seeing notable hikes following renewed negotiations between traders and the Ministry of Commerce. According to a press release issued on Monday by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, the price of bottled soybean oil has increased by Tk 6 per litre, taking it from Tk 189 to Tk 195. The cost of open (loose) soybean oil has also risen by Tk 3, now standing at Tk 177 per litre. Meanwhile, palm oil prices have jumped by Tk 13 per litre, reaching Tk 163. A standard 5-litre pack of bottled soybean oil is now priced at Tk 945. The latest...