New Prices Announced for Soybean Oil

The interim government's Trade Advisor, Sheikh Bashir Uddin, has announced a price hike for soybean oil. The new retail price for bottled soybean oil has been set at 189 Taka per liter, an increase of 14 Taka, while loose soybean oil will now cost 169 Taka per liter, up by 12 Taka.

The announcement came after a review meeting at the Secretariat regarding the import, supply, and overall situation of edible oil.

Additionally, the price of a five-liter bottle of soybean oil has been fixed at 922 Taka, and loose palm oil will also be sold at 169 Taka per liter. These prices are to take effect immediately.

To boost local supply, two oil companies have already begun production, and another six to seven are expected to start operations soon, the Trade Advisor added.

Commerce Secretary Mahbubur Rahman, senior government officials, and representatives from the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association were also present at the meeting.

Notably, the association had previously announced a price increase on April 13, but it was not implemented due to the absence of official approval. The last official price adjustment for bottled soybean oil was on December 9, 2024, when the price was raised to 175 Taka per liter.