Bottled soybean oil will now sell for Tk 160 a litre, up from Tk 153. The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association informed the commerce ministry of the change on Tuesday (19 October).

The association set the new price after discussions with the Bangladesh Trade and Tariff Commission and the commerce ministry, as prices of crude soybean and crude palm oil have risen on the international market.

A 5-litre bottle of oil will now cost Tk 760, up from Tk 728. Loose soybean oil will sell for Tk 136 a litre and bottled palm super oil for Tk 118. The new prices will not apply to old stocks held by distributors and retailers.

On 27 May the price of soybean oil was raised by Tk 9 a litre in one go. Because a discount of Tk 3 a litre had been given before Eid ul-Fitr, the total increase that time came to Tk 12.

Bangladesh imports 95 per cent of the edible oil it needs. Soybean oil prices have been raised several times in the country because of the unusual rise in international edible oil prices since 2020.

Source: Amader Shomoy. First published in Bengali on The Agro News.