Local edible oil refiners have proposed increasing edible oil prices by Tk10 per litre, with the new rates set to take effect nationwide from Saturday if approved by the government.
In a letter sent to the Ministry of Commerce, the Bangladesh Vegetable Oil Refiners’ and Vanaspati Manufacturers’ Association proposed revising the maximum retail prices in line with Section 12(1) of the Essential Commodities Marketing and Distributor Appointment Order, 2011.
Under the proposed pricing, the maximum retail price of a one-litre bottle of soybean oil would rise to Tk209 from the current Tk199. A five-litre bottle would cost Tk1,015, while the prices of loose soybean oil and loose palm oil would increase to Tk188 and Tk183 per litre respectively.
The association has requested that the revised prices be implemented nationwide from 11 July.
However, the Ministry of Commerce has not yet approved the proposal.
A senior ministry official said no decision had been taken on the matter. The official added that the ministry had forwarded the proposed price schedule to the relevant tariff and market monitoring authorities for review.
The proposed increase follows the latest price adjustment on 29 April, when the government approved a Tk4 per litre rise in soybean oil prices.
Following that revision, the price of a one-litre bottle of soybean oil increased to Tk199 from Tk195, while a five-litre bottle rose to Tk975 from Tk955. The price of loose soybean oil increased to Tk180 per litre from Tk176, while loose palm oil remained unchanged at Tk166 per litre.
If approved, the latest proposal would mark another increase in edible oil prices within three months, raising the retail price of one-litre bottled soybean oil by Tk14 since late April.
