The Ministry of Commerce has approved a Tk5-per-litre increase in the retail price of bottled soybean oil, raising the price of a one-litre bottle to Tk204 from Tk199.
The approval was granted on Wednesday following a request from edible oil traders for a price adjustment. The traders had initially sought a Tk10 increase per litre.
The decision was made at a meeting between Commerce Minister Khandaker Abdul Muqtadir and edible oil traders at the ministry.
Speaking at an emergency press briefing after the meeting, Commerce Secretary Md Ataur Rahman Khan said rising international edible oil prices and higher transportation costs had prompted importers to seek a price hike.
“Traders had sought a higher increase, but the government has adjusted the price by Tk5 per litre,” he said.
He added that there was currently no shortage of edible oil in the market and that the decision was taken after considering the overall market situation.
Asked whether prices could rise again ahead of Ramadan, the commerce secretary said any further adjustment would depend on market conditions at the time.
