Proposal to Increase Soybean Oil Price Again

The Trade and Tariff Commission has proposed another price hike for edible oils. According to their recommendation, the price of bottled soybean oil could increase by 9.27 BDT per liter.

Sources from the Trade and Tariff Commission have stated that the suggestion comes in response to rising oil prices in the international market and an increase in the exchange rate of the dollar. At the beginning of November, the price of soybean oil in the international market stood at 1,062 USD per metric ton, while palm oil was priced at 1,037 USD per metric ton.

As per the proposal, the maximum retail price of bottled soybean oil could rise from 189 BDT to 198.27 BDT per liter. Meanwhile, the price of loose soybean oil is recommended to increase by 8.85 BDT, bringing it to 177.85 BDT per liter.