Soybean Oil Prices Rise Again

The soybean oil price has been increased by Tk 7 per liter. The price of soybean oil stood at 205 taka per liter. The price hike was announced in a circular signed by Khandaker Nurul Haque, deputy secretary of the import and internal trade branch of the commerce ministry, on Thursday (June 9).

According to the proposed price, per liter of open soybean oil has been increased to Tk 185 at the consumer level. Earlier, it was 180 taka. One liter bottle of soybean oil has been priced at Tk 205. Earlier it was 198 taka. However, a 5-liter bottle has been priced at 997. Earlier, it was 985 taka. However, the price of palm oil has been reduced to Tk 158. Earlier, it was 172 taka.

According to the international news portal Index Moody.com, the price of soybean oil in the international market was $1,956 per metric ton last March. In April, it was reduced to 1,947 US dollars. Although the price of soybean oil decreased in the international market, the price increased in the domestic market.