The price of soybean oil has been increased by Tk4 per litre.
With the latest development, per litre bottled soybean oil will be sold at Tk167 while the price of 5 litre soybean oil has been set Tk818.
State Minister for Commerce Ahsanul Islam Titu announced the price of soybean oil at the Secretariat on April 18.
The price of palm oil per litre bottle has been set at Tk135.
However, the price of unpackaged soybean oil has been reduced by Tk2 to Tk147 per litre.
Earlier on February 7, the National Board of Revenue gave a 5% VAT exemption on the import of raw materials of edible oil at the request of the Ministry of Commerce.
The ministry reduced the price of bottled soybean oil by Tk10 to Tk163 per litre after VAT exemption.
After the exemption's validity expired on Monday, the executive officer of the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association sent a letter to the commerce secretary on the same day requesting that the price of bottled soybeans be increased by Tk10 to Tk173.
The letter read that the new prices will be implemented from Tuesday.
However, the state minister for Commerce Ahasanul Islam Titu denounced this move and said this will not be accepted.
