Soybean oil price goes up by Tk4

The price of bottled soybean oil has increased by Tk4 to Tk167 per liter.

At the same time, the price of a five liter bottle has been increased by Tk18 to Tk818 and the price of open(loose) soybean oil has been reduced by Tk2 to Tk147 per liter.

State Minister for Commerce Ahsanul Islam Titu made the announcement at a press conference organized on fixing the price of edible oil in the conference room of the Ministry of Commerce on Thursday.

Earlier on April 15, edible oil refiners sought to hike its retail price by Tk 10 per litre, citing that a value added tax (VAT) reduction, which they had been enjoying for the last two months, expired on the day.

Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association made the demand through a letter to the commerce ministry on April 15.

However, State Minister for Commerce Ahasanul Islam Titu at an event in Dhaka on Wednesday said there was no scope for increasing edible oil prices now but any such demand could be reviewed.