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The government has rejected a proposal to increase edible oil prices by Tk 19 per litre, declining to approve a fresh price hike amid concerns over rising living costs and the affordability of essential commodities.
Edible oil traders and refiners have been seeking higher prices, citing increases in international market prices, import costs and transportation expenses.
However, the government has maintained that any adjustment must be carefully examined before a decision is made.
The proposal comes amid preparations to ensure adequate supplies of essential commodities ahead of Ramadan, when demand for cooking oil and other food items typically rises significantly.
On October 26, traders proposed raising edible oil prices by Tk 15 per litre at a meeting with Commerce Minister Khandaker Abdul Muktadir.
The meeting reviewed import preparations, market supplies and prices of essential commodities ahead of the fasting month.
The government has emphasised the need to maintain stable prices and ensure adequate supplies, while warning traders against hoarding and market manipulation.
Bangladesh relies heavily on imports to meet its edible oil demand, making domestic prices vulnerable to fluctuations in international markets, freight charges and other import-related expenses.
According to industry data reported earlier this month, refiners have also warned that higher international soybean oil prices are putting pressure on their profit margins and could affect future imports if domestic prices remain unchanged.
The government has previously adjusted edible oil prices in response to rising import costs. On September 3, the maximum retail price of bottled soybean oil was increased by Tk 5 to Tk 204 per litre.
The latest proposal has renewed concerns over the balance between protecting consumers from further price increases and ensuring uninterrupted supplies in the domestic market.