Bangladesh government on Wednesday raised the price of bottled soya bean oil by Tk 4 to Tk 199 a litre, which was Tk 195 a litre.

Accordingly, a five-litre bottle would now cost Tk 975, following a hike of Tk 20.

The commerce minister, Khandaker Abdul Muktadir, announced the hike of the soya bean oil price following a meeting of the cooking oil price monitoring panel at the secretariat.

The representatives from the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association were also present at the meeting, said the ministry officials.

The government has also increased the price of loose soya bean oil by Tk 3 per litre to Tk 179 per litre, which was Tk 176.

Meanwhile, the prices of palm oil remained unchanged at Tk 166.

Earlier, edible oil prices were hiked on December 7 in the past year.

The country’s kitchen markets have experienced a severe shortage of bottled soya bean oil in recent months.

Refiners said that international prices have risen amid tensions in the Middle East, but the government had not adjusted domestic prices accordingly, prompting millers to pause in imports.

They sent a letter to the ministry on March 25, urging it to adjust the price, and met with the Commerce Minister on April 12, although the government didn’t approve any hike at that time.