The government raised the retail price of bottled soybean oil by Tk7 per litre on Thursday.
With the price hike, the maximum retail price of each litre of soybean oil is Tk205, said a notification issued by Bangladesh Edible Oil Refining and Vegetable Growers Association.
A five-litre bottle of soybean oil will now cost Tk997, which was previously set at Tk985.
Meanwhile, open soybean oil prices were raised to Tk185 per litre from Tk180.
On June 2, Commerce Minister Tipu Munshi said prices of edible oil may fall in Bangladesh in line with declining prices in the international market.
“We have seen that the prices of edible oil are declining in the international market and Indonesia has also withdrawn its ban on exporting edible oil. We will review the prices of oil within five to seven days and will fix new rate. It will take one and a half month time to come into effect,” he said.
The price of bottled edible oil stood at Tk200 per litre on June 2, up 20% from Tk170 per litre a month ago, data from the Trading Corporation of Bangladesh showed.
