Wholesale and retail prices of key edible oils have risen sharply in Bangladesh, with soybean and palm oil seeing notable hikes following renewed negotiations between traders and the Ministry of Commerce.

According to a press release issued on Monday by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, the price of bottled soybean oil has increased by Tk 6 per litre, taking it from Tk 189 to Tk 195.

The cost of open (loose) soybean oil has also risen by Tk 3, now standing at Tk 177 per litre.

Meanwhile, palm oil prices have jumped by Tk 13 per litre, reaching Tk 163. A standard 5-litre pack of bottled soybean oil is now priced at Tk 945.

The latest adjustments follow a fresh round of discussions between industry representatives and the Ministry of Commerce, marking a shift from an earlier impasse in August. At that time, traders had sought a Tk 10 per litre increase for soybean oil, citing rising global input costs and logistical expenses. However, the ministry permitted only a Tk 1 hike and instructed traders not to publicise the adjustment, a directive that led to frustration within the sector.

This time, the price revision has been formally announced after what the association described as a “constructive dialogue” with authorities.

The move reflects ongoing volatility in global vegetable oil markets, as well as domestic pressures from refining and distribution costs.

Market analysts note that repeated price fluctuations could fuel inflationary concerns, particularly as edible oils remain essential commodities in Bangladeshi households.

The government is now under renewed pressure to balance trader margins with consumer affordability, especially ahead of the year-end festive season, when demand typically peaks.