The Trading Corporation of Bangladesh has increased the price of soya bean oil by Tk 10 a litre against the backdrop of the price hike of the commodity on both the international and the local markets.
The state-owned corporation has also increased the price of red lentil by Tk 5 a kilogram.
The TCB sells essential commodities on the open market at reduced rates with the aim to keep the prices of daily essentials stable.
Refiners have started to increase the prices of edible oil on the local market for last three to four months on the pretext of the price hike of crude oil on the international market.
The retail price of soya bean oil has increased by Tk 3035 a litre to Tk 140 a litre in the country in the last three months.
Amid the frequent price hike of edible oil on the local market, the state-owned trading corporation on Monday increased the price of soya bean oil to Tk 90 a litre from Tk 80 a litre.
The TCB also increased the price of red lentil to Tk 55 a kg from Tk 50 a kg.
The TCB usually sells the coarse variety of red lentil and the item was selling for Tk 65-70 a kg in the city markets.
‘We have increased the price of soya bean oil and red lentil to narrow the business gap as the prices of the items have increased on both the local and the international markets,’ TCB chairman Brigadier General Md Ariful Hassan told New Age on Tuesday.
TCB sells the commodities at a subsidised rate and the amount of subsidy has increased due to the price hike of the items on the market, he said.
The TCB chairman also said that the rate of sugar remained unchanged and the item was selling for Tk 50 a kg at the TCB sales centres.
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