Bangladesh : Refiners seek sharp hike in edible oil prices
Edible oil refiners in Bangladesh have sought approval to raise soybean oil prices by up to Tk10 per litre and palm oil by Tk19, citing higher import costs and volatile global markets. Consumer groups warn the hike will worsen inflation, while the commerce ministry has yet to decide on the proposal.
Edible-oil refiners have proposed increasing the prices of soybean and palm oils by Tk 10 and Tk 19 per litre respectively, citing rising import costs and international market volatility, sources said.
The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORVMA) has submitted the price hike proposal to the Ministry of Commerce (MoC) recently, requesting to make the new rates effective from today (Monday), 24 November, 2025.
If the refiners’ proposal is implemented, the price of a one-litre bottle of soybean oil will jump to Tk199 from the current retail price of Tk 189.
The price of a five-litre jar of soybean oil will be increased to Tk985. The five-litre jar is now being sold at Tk922 at the retail level.
The price of loose soybean has been proposed to be raised to Tk179 per litre. Currently, loose soybean oil is being sold at Tk174 per litre.
However, the most significant impact could be seen in the palm oil market, a staple for lower-income households.
The refiners’ association has proposed raising the price of loose palm oil to Tk 169 per litre, a sharp increase from the current market rate of Tk 150.
The gap of Tk 19 per litre in palm oil price is particularly alarming for the working class,” said a market analyst and suggested verifying the import cost claims before allowing such a burden to be passed on to consumers.
The BVORVMA claimed that the price adjustment is necessary to maintain a normal and stable supply chain in the domestic market.
The association cited the “Essential Commodities Marketing and Distributor Appointment Order, 2011” as the basis for accepting it proposal.
The association highlighted that the costs of Letters of Credit (LC) as well as In-bond and Ex-bond values observed in October 2025 have risen significantly.
They believe that the price hike is a “logical and just” adjustment to align with current import expenditures.
Earlier, the government had rejected the BVORVMA’s proposals to increase edible oil prices two times.
Experts and consumer rights promoters have expressed deep concern over the proposal, warning that a fresh hike in edible oil prices will further strain household budgets already reeling under high inflation due to overhead essential market.
The refiners have sought government cooperation in implementing the new pricing structure immediately.
As of filing this report, the commerce ministry has yet to announce any official decision and the association also has not provided any update regarding the issue.
The refiners had increased the price of bottled soybean oil by Tk6.0 a litre to Tk 195 on 13 October, 2025; but the government did not approve the increased price.
The country’s annual demand for edible oil is 2.4-2.5 million tonnes, with over 95 per cent met through imports.
The trade body also noted that the last price adjustment for edible oil had been made on 3 August, 2025.
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Source : The Financial Express
