Bangladesh: Palm oil price cut by Tk 4, soybean Tk 5

The retail price of palm oil has been reduced by Tk 4 while soybean oil by Tk 5 a litre in the country.

The new price rate will come into effect from December 18, the commerce ministry said in a circular yesterday.

As per the new rate, one litre of bottled soybean oil will be sold at Tk 187 instead of Tk 192, loose soybean at Tk 167 instead of Tk 172 and palm oil at Tk 117 against Tk 121.

However, the price of a five-litre bottle of soybean oil has been fixed at Tk 906.

The government took the decision after scrutinising the current import prices and stocks of the essential cooking ingredient, according to the circular.

According to data of the state-run Trading Corporation of Bangladesh, loose soybean oil was selling at Tk 175 to Tk 180 per litre yesterday while bottled ones at Tk 180 to TK 190.

Apart from this, a five-litre bottle of soybean oil was being sold at Tk 890 to Tk 925.

On the other hand, loose palm oil was being sold at Tk 115 to Tk 130 per litre.

“Following the government’s decision, soybean and palm oil will be sold at the new price,” ‍SM Mujibur Rahman, head of accounts of the Meghna Group of Industries, one of the biggest commodity importers and processor, told The Daily Star.

Tags: palm oil, retail price, импорт, soybean oil