The price of soybean oil has gone up again in the country, with a rise of Tk 7 a litre taking it to Tk 160 a litre.

The increase follows higher prices of crude soybean and crude palm oil on the international market. The price was set by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association after discussions with the Bangladesh Trade and Tariff Commission and the commerce ministry. The association informed the commerce ministry on Tuesday, 19 October.

Under the new prices, a 5-litre bottle of oil will cost Tk 760, up from Tk 728 before. Buyers will also be able to buy loose soybean oil at Tk 136 a litre and bottled palm super oil at Tk 118 a litre.

The association's press release said the new prices would take effect immediately, but would not apply to old stocks held by distributors and retailers.

Soybean oil prices have risen in the country in several stages since 2020 because of an abnormal rise in edible oil prices on the international market. Earlier, on 27 May, the price of soybean oil was raised by Tk 9 a litre. But as a discount of Tk 3 a litre had been given on soybean oil before Eid-ul-Fitr, the price rose by Tk 12 in all that time.

Source: Dhaka Tribune. First published in Bengali on The Agro News.