Dhaka, April 7 -- A crucial meeting at the Ministry of Commerce concluded on Sunday without any decision against refiners' demand for a Tk 18 hike in the price of soybean oil per litre, leaving both the industry and consumers in a limbo.

The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORVMA) formally submitted their proposal on March 27, seeking to raise bottled soybean oil prices to Tk 193 from Tk 175 a litre.

The refiners' request comes as the government's VAT exemption on crude edible oil imports and production expired on March 31, which is expected to raise production costs.

The proposed hike will also impact loose oil varieties as per the proposal, potentially increasing prices to Tk 170 from Tk 15...