United News of Bangladesh

Businessmen have raised the price of edible oil in the market without obtaining approval from the Ministry of Commerce, increasing the price of bottled soybean oil by Tk 9 per litre — a move that will face action, Commerce Adviser Sk Bashir Uddin said on Wednesday (December 03, 2025). During visits to several markets in the city, five-litre bottles of soybean oil were found selling at Tk 965, up from Tk 922 just days ago. Aseem Halder, a grocer at Uttar Badda Kacha Bazar, said, “Companies have increased soybean oil prices by Tk 9 per litre. What was Tk 189 per litre is now Tk 198. Loose soybean oil has also gone up by Tk 5 per litre.” Read more: Govt to allow onion import to curb price hike: Commerce Adviser  Asked whether the ministry approved the hike, the adviser said traders raised prices without notifying the government. “They did not discuss the matter with the ministry,” he told reporters. “Just a few days ago, through a tender, they offered us soybean oil at Tk 20 less per litre than the existing market rate. We purchased 50 lakh litres of soybean oil. I don’t know on what grounds they have now increased the price,” he said. The adviser said the ministry will sit with traders soon, and if they fail to justify the hike, the new prices will not be approved. Read more: BERC raises LPG price for December When asked how traders raised prices without government clearance, he added, “They tried to increase prices in October as well, but we didn’t approve it — and the market didn’t follow the hike either. We will sit with them again.” Regarding commodity prices ahead of Ramadan, the adviser said the prices will remain stable as necessary measures have already been taken, and mentioned that the prices of chickpeas, sugar and lentils have recently declined. According to the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, companies sent a letter to the ministry on November 10 seeking approval to raise soybean oil prices. On November 24, they again recommended a price adjustment, but the ministry did not respond. Read more: Raiding retailers won’t help, real culprits must be caught: Adviser Bashir

The price of edible oil in the country will come down very soon due to various initiatives taken by the government, said Law Minister Anisul Huq on Friday. "The price of edible oil has not increased so much in the last 40 in the world like now which has affected Bangladesh" he said while addressing a special extended meeting of Kasba Upazila Awami League at Kasba Upazila Parishad Auditorium in Brahmanbaria. The minister said the government has taken all possible steps to control prices. He also urged the people to be patient now. Regarding the newly formed election commission, the law minister said, “Hopefully, they will arrange the election for district councils.” Read: LGRD minister blames soaring prices of essentials on pandemic & war He also said, “If there is a need to amend the law, the government will try to do so as soon as possible for the sake of the ( district council) election.” Kasba upazila Awami League vice-president Mojibur Rahman, joint general secretary Mahabubul Bari Chowdhury Montu, Kasba upazila parishad chairman Rashedul Kawser Bhuiyan and Kasba Municipality Mayor Golam Hakkani, were present at the meeting, among others.