Dhaka, Dec. 4 -- Local refiners in recent months have pressed the government several times to increase edible-oil prices in the light of the substantial price rise in the international market, industry insiders say.
The Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association (BVORVMA) urged the commerce ministry in June and November this year, and also in between, to adjust soybean and palm oil prices, but got no response.
As a result, the edible oil industry has been facing losses, the association claimed.
It also explained to the ministry prices should be increased as the materials needed for production and other relevant purposes have become pricier in the local market.
The BVORVMA said the ministry had sent its...
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