Soybean Oil Prices Raised Again

Staff Correspondent

The price of soybean oil has increased by Tk 14 per liter, with bottled soybean oil now priced at Tk 189 per liter, up from the previous Tk 175. The new prices, effective from Sunday, are being implemented in wholesale and retail markets across the country.

The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced the price hike in a statement on Sunday. This marks the latest price adjustment following a previous increase on December 9. Observers note that the continued rise in oil prices is adding to the financial strain on low-income households.

As per the revised pricing, a five-liter bottle of soybean oil will now cost Tk 922, compared to the earlier price of Tk 852. Unbottled soybean and palm oil will be sold at Tk 169 per liter, up from Tk 157. The Ministry of Commerce has approved the revised rates, according to the ministry’s secretary.

The soybean oil market has been marked by prolonged instability, with the government struggling to manage the crisis despite offering tax concessions. Multiple discussions with traders have led to this latest price adjustment, which aligns with rates proposed by the oil traders.