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The Bangladesh Trade and Tariff Commission (BTTC) has recommended a fresh price increase for soybean oil, citing sharp rises in import costs and the weakening of the Bangladeshi taka against the US dollar.
In a notification issued on Monday, the commission proposed raising the maximum retail price of bottled soybean oil by Tk 9.27 per litre, setting the new recommended ceiling at Tk 198.27 per litre. For loose (open) soybean oil, the suggested increase is Tk 8.85 per litre, bringing the proposed price to Tk 177.85 per litre.
The move came in response to growing landed cost pressures caused by higher international market prices, increased freight charges, and an exchange rate now estimated at Tk 122.60 per US dollar–a significant factor in pricing imported edible oils.
The previous price revision took effect on August 3 this year, following a coordination meeting on July 27, which set the retail cap for bottled soybean oil at Tk 189 per litre. However, ongoing volatility in global commodity markets and continued currency depreciation have forced another review.
Under established pricing guidelines, the BTTC periodically assesses cost fluctuations to ensure fair pricing for both consumers and suppliers, recommending adjustments when import costs exceed allowable thresholds.
According to the Trading Corporation of Bangladesh (TCB), the price of bottled soybean oil has risen by approximately 14 percent over the past year, adding to the financial strain on households amid persistent inflation.
