The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has announced an increase in the retail prices of edible oil, raising the rates of bottled soybean and palm oil with effect from Monday morning.
In a media release issued on Sunday evening, the association said a litre of bottled soybean oil will now be sold at Tk 195, up from Tk 189.
The price of loose soybean oil has also been increased by Tk 7 per litre, setting the new rate at Tk 176, compared to the previous Tk 169.
The price of a five-litre bottle of soybean oil has been fixed at Tk 955, rising by Tk 33 from Tk 922.
Palm oil prices have seen a sharper rise, with the rate increasing by Tk 16 per litre to Tk 166, from the earlier price of Tk 150.
According to the association, the revised rates have been set in consultation with the commerce ministry, aligning local prices with the international market.