BTTC Recommends Fresh Soybean Oil Price Hike

The Bangladesh Trade and Tariff Commission (BTTC) has recommended another price increase for soybean oil, citing rising import costs and the weakening of the Bangladeshi taka against the US dollar.

In a notification issued Monday, the commission proposed raising the maximum retail price of bottled soybean oil by Tk 9.27 per litre, setting the new ceiling at Tk 198.27 per litre. For loose (open) soybean oil, the suggested increase is Tk 8.85 per litre, bringing the recommended price to Tk 177.85 per litre.

The decision comes amid growing pressures from higher international market prices, increased freight charges, and an exchange rate now estimated at Tk 122.60 per US dollar.

The previous revision took effect on August 3 this year, which set the retail cap for bottled soybean oil at Tk 189 per litre. Continued volatility in global commodity markets and the weakening currency prompted a fresh review.

Under established guidelines, the BTTC periodically evaluates cost fluctuations to ensure fair pricing, recommending adjustments when import costs exceed allowable thresholds.

According to the Trading Corporation of Bangladesh (TCB), the price of bottled soybean oil has risen around 14 percent over the past year, adding to household financial pressures amid persistent inflation.