A news report published online by Prothom Alo on Monday stated that traders are seeking to increase the price of soybean oil by Tk 14 per litre and palm oil by Tk 12. A decision is expected at a meeting scheduled for Tuesday at the Commerce Ministry. Meanwhile, other media outlets have reported that the price of edible oil has already been increased, effective from Sunday.

There is little difference in the essence of the two reports. On 27 March, the Association of Edible Oil Refineries wrote to the Bangladesh Trade and Tariff Commission, requesting a price hike of Tk 18 per litre for bottled soybean oil and Tk 13 for open soybean and palm oil. The exemption of duties and taxes on edible oil imports expired on 31 March, which traders are citing as the reason for the proposed price increase.

Commerce Adviser Sheikh Bashiruddin held meetings with refinery owners on 6 and 8 April to discuss the issue, but no decision was reached. A follow-up meeting is scheduled for today.