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Soybean oil price down Tk 14 per litre

Published : 03 Oct 2022 09:22 PM

The price of bottled soybean oil has been reduced by Tk 14 per litre while the loose soybean oil price has decreased by Tk 17 effective from today, Tuesday.

Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has revealed this information in a circular on Monday. As per the circular, the new price of bottled soybean oil has been fixed at Tk 178 per litre which was Tk 192.

The notification signed by Executive officer of the organization Nurul Islam Mollah stated that the leaders of the edible oil traders’ association held a meeting with Prime Minister’s Private Industry and Investment Adviser Salman F. Rahman and Prime Minister’s Senior Secretary Tofazzal Hossain Mia regarding the increase in the value of the dollar and the complications of loan. After that meeting, the price of edible oil was revised by Tk 14 per liter for the convenience of consumers. 

According to the organization’s decision, the new price of loose soybean oil will be Tk 158 per litre. Currently open soybean oil is being sold at Tk 175 per litre in the market. And the price of 5 litre bottled soybean oil has been fixed at Tk 880. 

Oil marketing companies cut the price of edible oil in the world market. Earlier, on July 17, the oil marketing companies reduced the price of soybean and palm oil. Then on August 23, the price of soybean was again increased by Tk 7 per litre. The rate was reduced within a month and a half.