The government has increased the prices of soybean oil, citing rising import costs and changes in the global market, Commerce Minister Khandakar Abdul Muktadir said on Tuesday.
The decision was taken after a meeting at the Ministry of Commerce with officials and representatives of oil refiners and importers.
Under the new rates, bottled soybean oil (1 litre) will cost Tk 199, up from Tk 195, while loose oil has been set at Tk 179 per litre, up from Tk 175. A 5-litre bottle will now cost Tk 975.
The minister said the adjustment was needed as Bangladesh depends heavily on imported soybean oil, making local prices sensitive to global changes.
He said refiners and importers had been asking for a price increase for some time due to higher costs. They warned that without adjustment, supply could be affected.
Muktadir said the government reviewed global price trends and approved a limited increase, even though traders had proposed a higher rate.
He added that the goal is to keep the market stable and ensure regular supply while trying to reduce pressure on consumers.
The minister said the government will continue to monitor the situation and take steps to maintain the availability of essential goods.
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