The government has increased the price of bottled soybean oil by Tk 14 per litre.
As per the new pricing, the retail price of bottled soybean oil jumped to Tk 189 from Tk 175 per litre.
Commerce Adviser SK Bashiruddin announced the decision after a meeting on the review of edible oil import, supply, and related issues at the Secretariat.
The adviser said the new price of a five-litre bottle of soybean oil has been fixed at Tk 922 which was earlier Tk 852.
Alongside bottled oil, the new price of loose soybean and palm oil has been fixed at Tk 169 per litre, up from Tk 157.
The last hike in the price of bottled soybean oil was made on December 9.
The adviser said the new prices were fixed due to developments in the international market. “We will try to bring the prices down in the coming days,” he added.
Earlier, on March 27, the association of edible oil refiners wrote to the Bangladesh Trade and Tariff Commission, seeking a Tk 18 hike per litre in bottled soybean oil and Tk 13 in loose soybean and palm oil.
Administration sets retail price of loose Soybean oil at Tk160 per litre in Ctg
In the letter, the refiners said the exemption on import duties and taxes expired on March 31 which they cited as the reason for the proposed hike.
Despite holding meetings with all stakeholders last week, the government could not reach a decision on the matter until Tuesday.