The government of Bangladesh has decided to raise soybean oil prices in the domestic market, increasing the rate by Tk 14 per liter for bottled oil and Tk 12 for loose oil. Following a review meeting on edible oil imports and supply held on Tuesday, April 15, at the Secretariat, Trade Adviser Sheikh Bashir Uddin announced that the price of bottled soybean oil has been set at Tk 189 per liter, while loose soybean oil will now cost Tk 169 per liter. A five-liter bottle is now priced at Tk 922, and the price of loose palm oil per liter has also been fixed at Tk 169. These new rates are effective immediately. The price adjustment aligns with international markets and aims to enhance revenue collection, though the adviser acknowledged the rise may temporarily burden consumers. He added that more businesses are being brought into the supply chain to promote market competition, which could help bring prices down. Two companies have already begun local production of edible oil, and six to seven more are expected to follow soon. Previously, on April 13, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced a price hike, but it was not implemented pending government approval. The last price revision occurred on December 9 of the previous year, setting bottled oil at Tk 175 per liter. To stabilize prices, the government had earlier reduced VAT on refined and crude soybean and palm oil imports from 15% to 5%, along with exemptions at local production and distribution levels—though this relief expired on March 31.