Edible oil mill owners have increased the price of soybean oil by Tk14 per litre.
As a result, the price of a one-litre bottle of soybean oil is now set at Tk189, up from the previous price of Tk175.
This information was announced on Sunday in a press release issued by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association.
The new prices have come into effect immediately.
According to the announcement, the new price for a five-litre bottle of soybean oil has been set at Tk922, which was previously Tk852.
In addition to bottled oil, the new prices for loose soybean and palm oil have been fixed at Tk169 per litre, up from the previous price of Tk157.
It has been reported that ahead of Eid, on March 27, the mill owners proposed a price increase of Tk18 per litre for bottled soybean oil and Tk13 per litre for loose oil.
The traders announced that this new pricing would take effect from April 1, following the expiration of tax benefits on edible oil.
On that day, the association officially informed the Ministry of Commerce and the Bangladesh Trade and Tariff Commission of the price hike decision in writing.
Previously, the last time the price of bottled soybean oil was increased was on December 9 last year, when it was set at Tk175 per litre.