The price of bottled soybean oil has been increased by Tk7 per litre.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association issued a press release on Monday (22 August) announcing the price hike.
The price hike has been decided after holding meetings with the Bangladesh Tariff Commission and the Ministry of Commerce, it added.
On 3 August, the association had proposed to increase the price of soybean oil by Tk20 per litre. The proposal came just weeks after the government reduced prices Tk14 a litre at the retail level, following a price drop in the international market.
The new prices will come to effect from Tuesday (23 August).
Price of per litre of open soybean oil has been set as Tk175, while the price of per litre of bottled soybean oil has been set as Tk192.
For 5-litre bottles, the price has been set as Tk945.
At the same time, the price of palm oil (open) has been set as Tk145 per litre.
Before the latest price hike, the retail price per litre of loose soybean oil is Tk166, the one-litre bottle is Tk185, and the five-litre bottle is Tk910.
