Dhaka – Bangladesh’s Commerce Ministry has approved a Tk 5 increase in the retail price of bottled soybean oil, raising the price of one litre from Tk 199 to Tk 204.
The price adjustment was approved on Wednesday following a request from edible oil traders, who had initially sought a Tk 10 increase per litre.
The decision was taken at a meeting between government officials and edible oil traders at the office of Commerce Minister Khandkar Abdul Muktadir.
Speaking at an emergency press briefing after the meeting, Commerce Secretary Md Ataur Rahman Khan said the increase was driven primarily by rising international edible oil prices and higher transportation costs.
“Importers had requested a price increase citing these factors,” he said, adding that traders had sought a larger increase but the government decided to limit the adjustment to Tk 5 per litre.
The commerce secretary also said there was currently no shortage of edible oil in the domestic market and that the government had made the decision after assessing prevailing market conditions.
Asked whether soybean oil prices could be increased again ahead of Ramadan, Khan said any further adjustment would depend on market conditions at that time.
The latest increase is expected to put additional pressure on household budgets in Bangladesh, where edible oil is a widely used staple.
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