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Marketing companies are once again trying to increase the prices of soybean and palm oil in the country on the pretext of increasing prices in the international market. Edible oil refiners and marketers have proposed an increase of Tk 10 per liter.
A meeting with traders is scheduled to be held at the Commerce Ministry on Sunday (September 21, 2025) in this regard.
The Bangladesh Vegetable Oil Refiners and Bonaspati Manufacturers Association said that the price of soybean oil per ton in the international market has increased to $1,200. In recent times, the prices of soybean and palm oil have increased by 18-20 percent. Therefore, they have proposed a price adjustment.
However, the Commerce Ministry believes that the prices proposed by the traders are too high. Secretary Mahbubur Rahman said, “Their proposal is unusual compared to the international market. We are reviewing the matter, and then a decision will be made after a meeting with the traders.”
The Trade and Tariff Commission usually verifies these proposals.
Earlier, on August 12, the government reduced the price of palm oil by Tk 19 to Tk 150 per liter. However, the price of soybean oil was unchanged at Tk 189. Earlier, in April, the price of soybean oil was fixed at Tk 189 and palm oil at Tk 169.
Meanwhile, the National Board of Revenue (NBR) has imposed a one percent source tax on the import of soybean, sunflower, palm and corn oil since September 15. Traders claim that this measure is also affecting the edible oil market.
Source: Online/OFA
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