Tuesday, 16 July, 2024, Reg No- 06
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Cooking oil price up by Tk 10 per litre

Published : Wednesday, 17 April, 2024 at 12:00 AM  Count : 103

Bangladesh Vegetable Oil Refiners and Bonaspati Manufacturers Association (BVORBMA) on Tuesday increased cooking  oil prices by Tk 10 to Tk 173 per litre and one litre loose palm oil will cost Tk 132.

And 5 litre of soybean oil will cost Tk 845.

The BVORBMA aid in a notification that the validity of the previous notification issued on February 7, expired on April 15.
As a result, cooking oil (refined palm oil and refined soybean oil) will be supplied in the market from April 16, at pre-VAT prices.

It is said, the price of bottled soybean oil will be increased by Tk 10 per litre to Tk 173. 5.

Meanwhile, State Minister for Commerce Ahsanul Islam Titu said at an event at Dhaka Reporter Unity (DRU) on Tuesday that there is no scope to increase the price of cooking oil.

He said that cooking oil must be sold at the previous price.

On February 8, NBR reduced the VAT on locally produced as well as imported cooking oil by 5 per cent to reduce the price of daily commodities during Ramadan.

The mill owners proposed to increase the price of cooking oil saying the period of VAT exemption has expired.

In response to this, Ahsanul Islam Titu said, "We reduced the duty on cooking oil by 5 per cent, to reduce its price by Tk 10 at the consumer level.

The VAT exemption is valid till April 15, he said, adding, the Tariff Commission is working on it. It is being seen at what price the millers are fetching the crude oil, how the price is falling etc. But I can say that there is no scope to  sell cooking oil at previous price."

The mill owners wrote to the Commerce Secretary on Monday to raise the price of oil. They proposed to increase the price of one litre of bottled soybean oil to Tk 173, 5 and one litre of loose palm oil to Tk 132.

In this regard, the State Minister for Commerce said, "I do not know anything about the letter. I have not received the letter yet, if it has been sent I have to go to the office to see it."

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