Dhaka, Apr 15 (V7N) – The government has increased the price of bottled soybean oil by Tk 14 per liter, bringing the new retail price to Tk 189, up from the previous Tk 175. The decision was finalized during a meeting at the Ministry of Commerce, chaired by Advisor Sheikh Bashiruddin, on Tuesday (April 15).

The new price of a five-liter bottle of soybean oil has been fixed at Tk 922, up from Tk 852, while the price of open soybean and palm oil has been raised to Tk 169 per liter, from the earlier Tk 157.

The price hike follows the withdrawal of tax exemption benefits that had previously helped keep edible oil prices stable. According to Advisor Bashiruddin, the exemption had resulted in a monthly revenue loss of Tk 550 crore. The customs duty concession on edible oil, which was implemented to keep prices in check before Ramadan, expired on March 31.

This marks the first price revision since December 9, when bottled soybean oil prices were last increased. The Bangladesh Edible Oil Refiners Association had earlier submitted a proposal to the Bangladesh Trade and Tariff Commission on March 27, requesting a Tk 18 per liter hike in bottled soybean oil and a Tk 13 per liter increase in raw soybean and palm oil prices.

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