The prices of milk and edible oil shot up again last week, hitting people's pockets.
Milk prices showed a maximum of 25 per cent hike while edible oils witnessed a 5.0-8.0 per cent rise in last seven days, according to trading sources.
State-run Milk Vita raised the price of its liquid pasteurised milk to Tk 75 per litre from Tk 70 while its half-litre pack of both low-and high-fat milk had been raised to Tk 40 from Tk 35.
The price of quarter-litre pack of Milk Vita had been fixed at Tk 25 from Tk 20 earlier, according to groceries.
The prices increased by a maximum of 25 per cent in the retail market. Companies like Pran and Aarong had also raised the prices of their half-litre pack to Tk 40 from Tk 35 earlier, according to groceries.
Besides, powdered milk prices went up by Tk 20-30 a kilogram in a week.
Managing director of Milk Vita Amar Chan Banik told the FE that the company reviewed prices on March 13 after one year as the company had raised the milk rate for dairy farmers by Tk 2.0 a litre following an increase in production and operating costs and other surges.
He said Milk Vita was now supplying 0.14-0.17 million litres of liquid milk daily based on the demand.
Presently, the domestic production of milk is 9.9 million tonnes against a demand for 15 million tonnes in the country.
The country also imports 0.125-0.140 million tonnes of powdered milk to meet the shortfall.
However, prices of edible oils including soybean and palm oil increased by Tk 5.0-Tk 6.0 a kg last week as the government once again reset and raised its maximum retail prices on March 15.
For the second time, prices were increased within a month following its spiralling international rates, according to sources.
The retail price of loose palm oil (super) had been fixed at Tk 109 per litre, up from Tk 104 that was fixed last month while the product was sold at Tk 112-115 a litre on Thursday.
Loose soybean oil price was fixed at Tk 117 per litre, up from Tk 115 while it was retailed at Tk 120-124 a litre on Thursday.
The maximum retail price of brand bottled soybean oil was fixed at Tk 139 a litre, up from Tk 135.
Prices of five-litre jar of soybean oil were reset at Tk 660 from Tk 630, according to a statement issued by the commerce ministry.
On February 17, commerce minister Tipu Munshi announced the prices of edible oil for the domestic markets after adjusting those with the international rates.
On March 15, the national price fixing committee, a body under the commerce ministry, announced the fresh prices in consultation with the importers, millers, wholesalers and trade body leaders.
