Refiners Propose Raising Edible Oil Prices by Tk 10 Per Litre

Local refiners have proposed a new price hike for edible oil, seeking to increase rates by Tk 10 per litre. Under the proposed structure submitted by the Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association the maximum retail price of a one-litre bottle of soybean oil would rise to Tk 209 up from the current Tk 199.

The association requested the Ministry of Commerce to make these nationwide rates effective from Saturday, July 11. Under this new proposal, a five-litre bottle of soybean oil is set at Tk 1,015 while loose soybean oil and loose palm oil are priced at Tk 188 and Tk 183 per litre, respectively. The refiners cited local marketing regulations to justify the adjustment.

However, the government has not yet approved the hike. A senior official from the Ministry of Commerce confirmed that no decision has been finalized. The ministry has forwarded the proposed price schedule to the relevant monitoring and tariff authorities for close scrutiny before taking any official action.

This proposal follows a previous price adjustment on April 29, when bottled soybean oil was increased by Tk 4 per litre to reach the current Tk 199 mark.