The current market price of bottled soybean oil is Tk 178 per litre and it will rise by Tk 15 as per the proposal.
At the same time, the association proposed to fix the price of a 5-litre bottle of soybean oil at Tk 955. The price will rise by Tk 75 from the existing market price of Tk 880, according to the proposal.
They also proposed to raise the price of unpackaged soybean oil by Tk 15 per litre to Tk 173.
However, the government is yet to take any final decision on hiking the soybean oil price. The ministry generally takes a decision after assessing the proposal of the traders.
Later, the Bangladesh Trade and Tariff Commission (BTTC) analyses whether it is reasonable to increase the price. The authorities take a decision accordingly after the BTTC submits its report to the commerce ministry.