The price of soybean oil in the local market has been reduced by Tk 10 per liter due to the reduction in the price in the international market. The new price will be effective from today (Wednesday).
The revised prices have been adjusted following a meeting between Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, Commerce Ministry, and Bangladesh Trade and Tariff Commission on Tuesday.
The price of bottled soybean oil has been reduced by Tk 10 to Tk 179 per litre, per litre of loose soybean oil now stood at Tk 159 after a reduction of Tk 8.
In addition to the reduction in soybean oil prices, the price of loose palm oil has seen a cut of Tk 5, now costing Tk128 per litre. On the other hand, bottled palm oil per litre now stood at Tk 148 following a reduction of Tk 12. According to the Ministry of Commerce, there is a demand for 20 lakh tonnes of edible oil annually in the country. Around 200,000 tonnes is met from local production while the rest of the demand is met from import.
