Prices of edible oil are on the rise amidst the still unstable onion market. The price of per litre of soybean oil has jumped up Tk 8 in the last one month.
A spot visit to the kitchen market in Kawranbazar showed that each litre of lose soybean oil was selling for Tk 88 which was Tk 85 only last week. Similarly, each palm oil (super) sold for Tk 75 per litre and palm oil (lose) sold for Tk 69 per litre.
Moulvibazar Traders Association General Secretary Golam Mowla said that since the weather has gotten colder, prices have gone up.
“Because palm oil freezes in winter, there is more pressure on soybean. The sellers, be it wholesale or retail, have nothing to do here,” he said.
He added that that mill owners hike up prices as winter progresses.
According to the Trading Corporation of Bangladesh (TCB), last month each litre of the edible oil was Tk 80-85 per litre and palm oil was Tk 62-65 per litre.
According to the state-owned trading corporation, price of palm oil went up 9.45 percent and although price of one-litre bottles of soybean oil has remained same, price of five-litre containers went up by Tk 15.
Prices of other commodities are also in the rise with per kilogram of sugar selling for Tk 65 which was Tk 58-60 last month.
However, onion prices have dropped slightly with each kilogram of local variety selling for Tk 8-120 per kilo. The price of China onions are the cheapest, with each kilogram selling for Tk 60.