Business Desk
Commerce Minister Tipu Munshi has said that the price of edible oil is not increasing at present. He told reporters after a meeting with edible oil traders at the Secretariat on Wednesday (January 19th) morning that a decision would be taken on February 8 to raise prices.
The Commerce Minister said, "I have requested the edible oil traders to give some time. They kept there promises. We will be sitting again after 6th February. Then the price will increase if necessary and reduce if necessary."
"The traders themselves raised some prices without informing us," he said. They also said that they would consider it. '
He added, "India's biggest advantage is that their duty structure is much lower than ours. Where we have 18 to 20 percent, they give only 5 percent. We have to consider all this. "
In the current market, bottled soybean oil is priced at Tk 160 per liter and open soybean oil at Tk 136 per liter.
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