The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has recommended the Ministry of Commerce to hike the prices of soybean oil by Tk15 per litre.
In a letter on Wednesday (2 November), the refiners' association proposed the ministry to adjust edible oil prices in the local market citing a price hike of crude oil and dollar rates in the international market.
The ministry after receiving the letter asked Bangladesh Tariff Commission to prepare a report with recommendations after scrutinising the refiners' proposals.
The refiners' association proposed to hike the price of one litre bottled soybean oil to Tk193 from Tk178.
It also recommended to hike the price of a five-litre bottle to Tk955 from Tk880 and loose oil to Tk173 from Tk158.