The price of soybean oil in Bangladesh has been raised due to a supply shortage triggered by rising international market prices.
Following a meeting with traders on Monday to discuss edible oil prices, Trade Adviser Sheikh Bashiruddin announced that the government has approved an 8 Taka per liter price hike for both bottled and loose soybean oil.
The new price for bottled soybean oil has been set at 175 Taka per liter, while loose soybean oil will now cost 157 Taka per liter.
These updated prices will take effect immediately.
The Adviser explained that the price increase was necessary to address the ongoing supply shortage caused by the international price hike.