The government has decided to raise the prices of edible oil in response to rising international rates, officials said on Monday.
The move was agreed at a meeting between Commerce Adviser Sk Bashir Uddin and traders at the Secretariat, the officials said.
The prices of both loose and bottled soybean and palm oil have been increased, with traders expected to announce the exact adjustment later.
Traders had been pressing for a revision, citing an 18%–20% surge in global soybean and palm oil prices.
The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association said the international price of soybean oil has reached $1,200 per tonne.
The latest decision comes after palm oil prices were cut by Tk19 to Tk150 per litre on 12 August, while soybean oil remained at Tk189 per litre.
In April, the government set soybean oil at Tk189 and palm oil at Tk169 per litre.
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