The country’s refiners have increased the price of bottled soybean oil by Tk 6.0 a litre, raising it to Tk 195.

The price of loose soybean oil has been hiked by Tk 3.0 per litre, while palm oil prices have gone up by Tk 13 a litre.

These new prices were announced in a press release issued on Monday by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association.

In August, a dispute had emerged between the government and the Ministry of Commerce over edible oil pricing. Traders had proposed a Tk 10 per litre increase for soybean oil, but the ministry allowed only a Tk 1 hike.

Dissatisfied with the decision, traders refrained from issuing any press release in line with the government’s directive.

However, they said the new price hike has been decided following fresh discussions with the Ministry of Commerce.

As per the new rates, the price of bottled soybean oil has been raised from Tk 189 to Tk 195 per litre, loose soybean oil from Tk 174 to Tk 177 per litre, and palm oil from Tk 150 to Tk 163 per litre. The price of a five-litre bottle of soybean oil has been fixed at Tk 945.

No immediate comments were available from the Commerce Ministry in this regard.