The new price of bottled soybean oil in the retail market has been set at 189 taka per liter, and the new price of open soybean oil and palm oil has been set at 169 taka per liter, Commerce Advisor Sheikh Bashiruddin said.
Today, Tuesday (April 15, 2025), after a review meeting organized at the Secretariat on the import and supply of edible oil, Commerce Advisor Sheikh Bashiruddin gave this information to media personnel.
The Commerce Advisor said that bottled soybean oil has been increased by 14 taka per liter to 189 taka. On the other hand, open soybean oil has been increased by 12 taka per liter to 169 taka. And this has been done in accordance with the process determined by the International Market Price and Tariff Commission.
The increase in oil prices will cause some hardship to consumers. Terming it temporary, the trade advisor said that more traders are being added to the market, but prices may also come down in a competitive market.
He said that two oil companies have already started oil production to increase the supply of edible oil from the local market. 6-7 more oil companies will come into the oil production process very soon.
It is worth noting that the price of bottled soybean oil was last increased on December 9 last year. At that time, the price was set at Tk 175 per liter.
To keep the market price of edible oil stable, the government had earlier reduced the value added tax (VAT) imposed on the import of refined and unrefined soybean oil and palm oil from 15% to 5%. In addition, VAT exemption was also provided at the local production and marketing level, the validity of which expired on March 31, 2025.
