The prices of soybean oil have been reduced by up to Tk 6 per litre, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association announced it on Sunday.
With the new prices, bottled soybean oil per litre will go down by Tk 6 to Tk 199, according to a press statement of the association.
A five-litre bottled oil will be sold at Tk 980, down from 997, while the price of loose soybean oil will be Tk 180 which was Tk 185 per litre.
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The new rates will be effective from Monday.
The announcement of price decline comes just hours after the Ministry of Commerce hinted at reducing the prices of the essential kitchen item.
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Senior Secretary of the ministry Tapan Kanti Ghosh, at a press conference at the secretariat, said the prices of edible oil might come down and the consumers would receive good news in a day or two.
However, he did not exactly say how much the price of the edible oil can be declined as Bangladesh Trade and Tariff Commission was working on the issue.