Soybean oil price decreased by Tk 10 per liter

The price of soybean oil has been decreased by Tk 10 per liter. The price of palm oil has also been reduced by Tk 2 per litre at the retail level.

The new price will be effective immediately.

Topon Kanti Ghosh, Senior Secretary of the Finance Ministry, confirmed the information to the reporters after the 7th meeting of the taskforce regarding the review of commodity prices and market conditions at Secretariat on Sunday.

The price of edible oil will be reduced one more time in the next 15 days, he added.

As per the new rate, one-litre bottled soybean oil will be sold at Tk 189 instead of Tk 199 while loose soybean at Tk 167 instead of Tk 177.

The bottled palm oil will be sold at Tk 165 per liter instead of Tk 167 per liter. The price of one-litre loose palm oil has been fixed at Tk 133 instead of Tk 135.

Earlier on May 4, the government allowed edible oil refiners to increase the price of soybean oil by Tk 12 a litre to Tk 199 a litre amid soaring commodity prices on the local market.