The prices of edible oils have been hiked at different levels聽from Tuesday, according to a press release issued by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association on Monday.
Price of 1-litre bottled soybean oil
Month聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽Price
September 2024聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽 Tk 167
December 2024聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽 Tk 175
April 2025聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽Tk 189
September 2025聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽聽 Tk 190
October 2025聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 聽 Tk 195
Source: Trading Corporation of Bangladesh
The millers鈥� association said that the new rates were fixed after consultations with the Ministry of Commerce to align with international market trends, according to the press release.
However, a commerce ministry official denied the approval of the price hike, saying that they had not made a final decision regarding the price of oil.
The price of a one-litre bottle of soybean oil has been fixed at Tk 195, while a five-litre bottle would cost Tk 945, loose soybean oil at Tk 177 per litre, and loose palm oil at Tk 163 per litre.
According to the data from the Trading Corporation of Bangladesh, on Sunday, the price of a one litre bottle of soybean oil was Tk 190, 5-littre bottle was Tk 920, loose soybean oil was Tk 172 per litre, and the price a litre palm oil was Tk 160.
The edible oil witnessed a further hike after just 21 days since the last hike.
An official of the Ministry of Commerce said that the ministry didn鈥檛 approve the fresh聽price hike.
鈥楢 meeting was held on Monday between the ministry officials, representatives from the Bangladesh Trade and Tariff Commission, and the association leaders,鈥� he added.
The official also said that the association presented a list of proposed prices for edible oils, during which the BTTC shared its observations聽at the meeting.
Then the commerce ministry official said that they would make a decision on the price hike after getting approval from ministry adviser Sk Bashir Uddin, which was expected on Tuesday (October 14).
However, the association issued the press release, though the ministry hasn鈥檛 given the final approval on the proposed price, he added.
Monday鈥檚 meeting was a follow-up to another meeting held about a week ago regarding the price hike, said the ministry source.聽
Earlier, on September 22, the government approved a minimal increase of Tk 1 per litre for edible oils, by rejecting industry demands for a Tk 10 hike amid soaring global commodity prices.
The decision, taken after a closed-door meeting between the ministry and the millers鈥� association.
However, the major market players resisted the decision, claiming the move ignored economic realities and risked supply chain disruptions.
On Monday, in the press release, signed by the association鈥檚 executive officer, Md Nurul Islam Molla, stated that the hike came amid rising prices in the international market.
The interim government has hiked edible oil prices several times since it resumed office in August 2024, following the fall of the Awami League regime due to a mass uprising.
In December 2024, the government hiked the price of edible oil, fixed a one-litre bottle of soybean oil at Tk 175, from Tk 167.
In April of this year, the government again hiked the price of soybean oil, setting it at Tk 189 for a one-litre bottle.
On September 22, the price was further hiked by Tk 1 per litre of bottled soybean to Tk 190, a change that lasted only 21 days.聽
Talking to 抖阴精品,聽SM Nazer Hossain,聽vice president of the Consumers Association of Bangladesh, said that the millers hiked the price, ignoring the government decision, a practice they had adhered to for years.
鈥楾he government just approved the price proposed by the millers, without evaluating the market properly. Moreover, BTTC鈥檚 system of price assessment is not realistic,鈥� he added.
He also said that only millers and BTTC representatives evaluate the market to hike prices, which couldn鈥檛 be a fair system.
鈥榃e always urge the evaluation body should include representatives from consumer rights and media, but they didn鈥檛 do this,鈥� he added.
The system of adjustment with the global markets by the traders is聽also unrealistic, he added.
According to US Department of Agriculture, Bangladesh鈥檚 consumptions of soybean and palm oil was 28.6 lakh metric tonnes in marketing year 2024-15, where over 11 million MT was soybean.
Bangladesh largely dependent on imports for edible oil.
