The government lowers the prices of cooking oil following a fall in the global market

11/07/2023 (BD News24.com) - The government has lowered cooking oil prices by Tk 5-12 per litre following a fall in prices on the global market.

The new rates will be effective from Wednesday, the commerce ministry said in a notice on Tuesday after the Vegetable Oil Refiners and Vanaspati Manufacturers Association informed the government about their decisions.

Bottled soybean prices have been cut by Tk 10 a litre to Tk 179. It means a five-litre bottle of soybean oil will cost a customer Tk 873, which was Tk 916.

Loose soybean oil will cost Tk 159, or Tk 8 less than the current rate.

Loose palm oil prices have been lowered to Tk 128 from Tk 133 while the prices of the product in bottles have been cut by Tk 12 to Tk 148 a litre.

According to the Trading Corporation of Bangladesh, the price of loose soybean oil was Tk 175 a litre on Tuesday, bottled soybean oil Tk 190, loose palm oil Tk 130 and bottled palm oil Tk 160.

Soybean oil prices were cut by Tk 10 a litre for the last time on Jun 11. Palm oil prices were lowered by Tk 2 a litre at that time.

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