Govt cuts edible oil price by Tk 8 a litre

The government today reduced the retail price of bottled soybean edible oil to Tk 160 a litre, a cut by Tk 8 from the current rate of Tk 168 a litre.

It also fixed the price of loose soybean oil at Tk 136 per litre while the retail price of five-litre soybean oil containers at Tk 760.

Tapan Kanti Ghosh, senior secretary to the commerce ministry, announced the new rates of edible oil at a press conference at the commerce ministry in Dhaka.

The new price will come into effect at mill gates from tomorrow and it will take four or five days to be effective at the retail level, Ghosh also said.

The commerce ministry will fix the prices of palm oil in a meeting on March 22, the secretary said.

The decision was taken in a meeting with the refiners at the commerce ministry in Dhaka.

The secretary said the prices of edible oil have been reduced as a consequence of the value-added tax withdrawal on import of edible oil.