Edible oil volatility: Refiners seek fresh price hike before Ramadan
Bangladesh, Oct. 3 -- The edible-oil market is facing a fresh supply risk ahead of next Ramadan as local refiners have sought another price increase.
They have warned that mounting losses from higher international prices could discourage imports and disrupt the supply of essential cooking oil.
The demand for a price hike comes barely 20 days after the latest rise, raising fresh concerns that continued pressure on refiners' margins could eventually trigger a supply crunch during the peak demand period of Ramadan, a commerce ministry official said.
The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association submitted a proposal to the government on September 20, seeking an adjustment of edible oil prices, citing higher...
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