The Bangladesh government has raised the price of bottled soybean oil by Tk5 per litre, setting the new retail price at Tk204 from Tk199. Commerce Secretary Md Ataur Rahman Khan announced the adjustment at a media briefing in his office at the Commerce Ministry Secretariat on Wednesday afternoon.

The secretary said the adjustment was prompted by higher international transport costs and geopolitical conditions in the Middle East. The change currently applies only to bottled soybean oil; no decision has been made to alter prices of palm oil or any other edible oil.

According to the secretary, the edible oil traders’ association had long discussed a price increase with the government. The Bangladesh Trade and Tariff Commission gathered data from Bangladesh Bank, the National Board of Revenue and other sources, finding an impact that could support an increase of up to Tk10. The government limited the rise to Tk5, citing consumers’ purchasing capacity. Importers and traders assured authorities that normal supply would continue ahead of Ramadan without any artificial shortage.