The government has cut the edible oil price by Tk5 per litre and fixed the maximum retail price of per-litre bottle of soybean oil at Tk 187 from Tk 192.
The new price of oil will be effective from next Sunday (November 18).
As per discussion with the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORBMA), the association of the owners of edible oil refining and marketing companies, the Ministry of Commerce issued a notification in this regard on Thursday.
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As per the new rates, the price of loose soybean oil has been fixed at Tk 167 and bottled soybean oil at Tk 187 per litre. A 5-litre bottle of soybean oil price is set at Tk 906 and palm oil at Tk 117 per litre.
At present, loose soybean oil retail price is Tk 172 per litre, bottled soybean oil is Tk 192 and a 5-litre bottle is Tk 925 in the retail market. Besides, the price of palm oil is 121 Tk per litre.