Bangladesh: Soybean oil price up by Tk6 a litre, palm oil soars Tk16

sold at Tk195, up from Tk189. The price of loose soybean oil has also been increased by Tk7 per litre, setting the new rate at Tk176, compared to the previous Tk169. The price of a five-litre bottle of soybean oil has been fixed at Tk955, rising by Tk33 from Tk922. Palm oil prices have seen a sharper rise, with the rate increasing by Tk16 per litre to Tk166, from the earlier price of Tk150. According to the association, the revised rates have been set in consultation with the commerce ministry, aligning local prices with the international market. On 10 November, refiners wrote to the Bangladesh Trade and Tariff Commission seeking approval for a price hike amid rising global market rates and moved ahead with the increase from 24 November without the commerce ministry’s consent. The move triggered warnings from Commerce Adviser Sheikh Bashir Uddin, prompting a meeting between officials and traders on 4 December. Following the discussions, companies rolled back part of the increase. ...