Bottled soybean oil now Tk185 a litre

The government on Sunday reduced the retail price of bottled soybean oil by Tk 14 to Tk 185 per litre in response to falling prices in the global market.

The new price will come into effect from Monday, senior commerce secretary Tapan Kanti Ghosh told the media.

The new price of five-litre bottles of soybean oil will be Tk 910, down from Tk 980, he added.

The government set the price in consultation with the millers and refiners at a meeting at the commerce ministry office in Dhaka on Sunday. The price of retail soybean oil had previously decreased by Tk 6 per litre to Tk 199 on June 26.

The senior commerce secretary also said that the new price of loose soybean has been fixed at Tk 166 per litre.

Apart from this, the government has also decided to reduce the price of palm oil by Tk 6 to Tk 148 per litre.

“Consumers would be benefited if the price of edible oil continued to fall in international market,” Tapan said.

Earlier, the Bangladesh Trade and Tariff Commission opined with the market observation that the government may take the necessary measures to decline the price of edible oil by 10 per cent.

As per the recommendation, the price of bottled soybean edible oil was supposed to be set at Tk 185 per litre, while a five-litre container of soybean oil at Tk 882 and palm oil at Tk 139.