Bottled edible oil price goes up by Tk 6 per litre

Bottled soybean oil.

Dhaka, Oct 13 - The price of edible oils in the country has increased, with bottled soybean oil rising by Tk 6 per litre, loose soybean oil by Tk 8 per litre and palm oil by Tk 13 per litre.

On Monday evening, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced the price hike in a press release, which will take effect on Tuesday.

The association said the new prices were adjusted after consultation with the Ministry of Commerce to align with international market trends and would be implemented immediately.

Under the revised rates, the price of bottled soybean oil has been fixed at Tk 195 per litre, up by Tk 6, while loose soybean oil will now cost Tk 177 per litre, up by Tk 8.

The price of a five-litre bottled soybean oil has been set at Tk 945, and loose palm oil at Tk 163 per litre.

Earlier this year in April, the price of bottled soybean oil was raised by Tk 14 to Tk 189 per litre and loose soybean oil by Tk 12 to Tk 169 per litre.

At that time, five-litre bottled soybean oil was priced at Tk 922, and loose palm oil at Tk 169 per litre.

The last price revision was on August 12, when soybean oil prices were kept unchanged, while loose palm oil was reduced by Tk 19 to Tk 150 per litre.

Traders attributed the latest price hike to rising costs in international edible oil markets and the need to maintain supply stability in the domestic market. - UNB