The price of soybean oil has been raised by Tk4 per litre, bringing the cost of bottled soybean oil to Tk167 per litre and Tk818 for a 5-litre container.

State Minister for Commerce Ahsanul Islam Titu announced the new prices at the Secretariat on April 18. Additionally, the price of palm oil per litre bottle has been fixed at Tk135.

Conversely, the price of unpackaged soybean oil has been reduced by Tk2 to Tk147 per litre.

Previously, on February 7, the National Board of Revenue granted a 5% VAT exemption on the import of raw materials for edible oil following a request from the Ministry of Commerce. In response, the ministry lowered the price of bottled soybean oil by Tk10 to Tk163 per litre after the VAT exemption.

However, as the validity of the exemption expired on Monday, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association's executive officer sent a letter to the commerce secretary requesting a Tk10 increase in the price of bottled soybeans to Tk173. This proposed increase was scheduled to take effect from Tuesday.

State Minister Ahasanul Islam Titu opposed this move, stating that it would not be accepted.