Concern Over Increase in Soybean Oil Price

Soybean oil

Dear Sir/Madam,

I am writing to express my deep concern and dismay regarding the latest price hike of soybean oil by Taka 14 per kilogram. This sharp increase is likely to have far-reaching consequences, particularly for the economically disadvantaged sections of society.

Soybean oil is a staple in households across Bangladesh, and its price directly impacts the affordability of cooked and processed food. A rise in its cost will undoubtedly push up food prices across the board, making it increasingly difficult for low-income families to sustain themselves. Already burdened by inflation and economic challenges, they are now faced with the possibility of reduced access to nutritious meals.

Moreover, the price hike will strain small businesses and food vendors who rely heavily on soybean oil for their products. This will not only affect their livelihoods but also lead to higher costs for consumers, further exacerbating the financial strain on the poor.

It is imperative that authorities take immediate steps to address this issue. Measures such as subsidising soybean oil or implementing price controls could alleviate the burden on vulnerable populations. Additionally, encouraging the production and use of alternative cooking oils may provide some relief in the long term.

I hope this pressing concern will be addressed at the earliest to prevent further hardship for those who are most affected.

Yours sincerely, 

Rabiul Alam

Goran, Dhaka