Despite the recent hike of edible oil prices in Bangladesh, the country still offers the essential product at a lower price when compared to its South Asian counterparts.
Commerce ministry provided the comparison in a press release issued on Monday.
The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVOVMA) a few days back increased the retail price of bottled soybean oil by a record Tk38/litre.
The commerce ministry last week approved the BVOVMA proposed rates which were submitted before the Eid holidays.
With the latest development – which came into effect on Friday – the maximum retail price of a litre of bottled soybean oil now stands at Tk198 while loose soybean oil is being sold at Tk180/litre and palm oil price at Tk172/litre.
According to a government press release issued on Monday, cooking oil is more expensive in India, Pakistan and Nepal than in Bangladesh.
In neighbouring India, soybean oil cost some Tk213.41-224.65 per litre. In Pakistan, the prices for cooking oil are hovering around Tk236.37-238.69/litre.
Meanwhile, people in Nepal are having to spend around Tk197.15-214.75 for a litre of bottled soybean oil.
The stock and import-related data of edible oil in Bangladesh are as follow: