The price of unpacked soybean oil has been cut by Tk 2 per litre
Bangladesh raises cooking oil prices again in line with global rates
The price of bottled soybean oil rose by Tk 12 a litre as the government removed its VAT benefit
Published : 4 May 2023, 07:37 AM
Updated : 4 May 2023, 07:37 AM
The prices of soybean oil and palm oil have risen again as the government has withdrawn import benefits.
The decision by the Vegetable Oil Refiners & Vanaspati Manufacturers Association was announced by the Ministry of Commerce on Thursday.
The price of soybean oil without a bottle rose from Tk 168 to Tk 176 a litre, while the price of bottled soybean oil increased from Tk 187 to Tk 199.
Meanwhile, the price of a 5-litre bottle of soybean oil rose to Tk 960, and the price of a litre of palm super oil hit Tk 135.
The government had lowered the VAT on cooking oil from 15 percent to 5 percent for a long time in order to protect the domestic market from international prices. After extending the benefit several times, the government brought it to an end on Apr 30.
The VAT on cooking oil has now reset at 15 percent.
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