Bottled soybean oil hiked by Tk 4 per litre

The government has hiked the price of bottled soybean oil by Tk 4 to Tk167 per litre while the price of unpackaged soybean oil has been reduced by Tk 2 to Tk147 per litre.

The price of palm oil per liter bottle has been set at Tk 135.

Meanwhile, the prices of 5 litre bottled soybean oil has been increased from Tk800 to Tk 818.

State Minister for Commerce Ahsanul Islam Titu announced the new prices at the Secretariat in the city on Thursday.

On 7 February, the National Board of Revenue gave a 5 percent VAT exemption on the import of raw materials of edible oil at the request of the Ministry of Commerce.

The ministry reduced the price of bottled soybean oil by Tk10 to Tk163 per litre after VAT exemption.

The exemption's validity expired on 15 April. 

Consequently, the executive officer of the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association sent a letter to the commerce secretary on the same day. In the letter, they requested that the price of bottled soybean oil be increased by Tk10 to Tk173.