Price of palm oil set at 150 Taka per liter, soybean oil price remains unchanged

The government has fixed the price of palm oil at 150 Taka per liter, reduced by 19 Taka from the previous price of 169 Taka. However, the price of soybean oil remains unchanged. This information was announced by Commerce Secretary Mahbubur Rahman at a press conference held at the Secretariat on Tuesday.

The Commerce Secretary stated, “The decision to reduce the price of palm oil was made due to the decrease in international market prices. However, the price of soybean oil has not changed because the cost of raw materials has not decreased. The price of soybean oil remains steady at 189 Taka per liter.”

Prior to August, on April 13, the prices were fixed at 189 Taka per liter for soybean oil and 169 Taka per liter for palm oil.

Meanwhile, due to the increase in onion prices, the government is planning to import onions. Trade Advisor Sheikh Bashiruddin said, “We will import onions through an open tender process at the lowest price possible, not from India. The quantity of imports will be determined based on demand and supply. If prices continue to rise, the import quantity will be increased.”

The press conference also revealed that for the current fiscal year 2025-26, the country’s export target has been set at 635 billion dollars, with plans to earn 550 billion dollars from goods exports and 85 billion dollars from the service sector. The export target last fiscal year was 557.8 billion dollars.

The government hopes that achieving the set targets will further advance the country’s economic development.