The retail price of bottled soybean oil has increased by Tk 5 per litre, taking the new price to Tk 204 from Tk 199, as higher international prices push up import costs in Bangladesh.
The new price was decided at a price review meeting between business representatives and Commerce Minister Khandaker Abdul Muktadir at the Ministry of Commerce on Wednesday.
After the meeting, the minister said prices of several commodities had increased in the international market due to adverse global conditions.
He said the rise in international prices directly affects Bangladesh because the country depends entirely on imports for soybean oil.
“Since soybean oil is completely import-dependent, the increase in international market prices has inevitably affected our domestic market,” the minister told reporters.
This is the second soybean oil price hike this year. On April 26, the retail price was increased by Tk 4 per litre to Tk 199 from Tk 195.
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