21/08/2007 (The Daily Star) - Bangladesh Rifles (BDR) will start market monitoring in the capital from tomorrow to ensure selling of soya bean and palm oil at Tk 80 and Tk 76-78 a litre.

The edible oil importers and refiners at a meeting with the officials of Bangladesh Rifles at the BDR headquarters yesterday agreed not to make profit on oil selling till the Eid-ul-Fitr.

As the meeting presided over by Col Halim fixed the price of soya bean and palm oil at Tk 80 and 76-78 a litre, BDR mobile teams will take action if anyone sells oil at higher prices.

After about two hours meeting, the businessmen agreed to sell soya bean oil at Tk 80 per litre in Dhaka and Tk 81-82 outside.

The price of palm oil has been fixed at Tk 76-78 per litre in Dhaka while it will be sold at Tk 78-80 outside.

The meeting also decided that the mill owners would sell soya bean oil to wholesalers at Tk 73.68 per litre while the wholesalers will sell to retailers at Tk 74.50.

The price of soya bean oil in five-litre container has been fixed at Tk 390.

The oil traders at the meeting urged the government to reduce bank interest rate and take measures for prompt delivery of oil from the Chittagong port.

President of Edible Oil Refinery Association MA Rouf Chowdhury and Chairman of Meghna Group of Industries Mostafa Kamal, among others, were present at the meeting.