New soybean oil price effective from Friday

According to the previously announced decision, the new price of soybean oil will be effective from Friday (March 1).

As per the new prices, retail price of bottled soybean oil will be Tk 163 per litre and open soybean oil Tk 149 per litre. Apart from this, a 5-litre bottle of soybean oil will be sold at Tk 800.

On February 20, a task force meeting was held at the commerce ministry to review commodity prices and market conditions. In that meeting, a decision was made to reduce the price of soybean oil by Tk 10 per litre.

At the meeting, State Minister for Commerce Ahsanul Islam told the businessmen, "The government has given Tk 5 discount. Now, you have to give a Tk 5 discount ahead of Ramadan.”

As the mill owners and oil refiners present in the meeting accepted the state minister's proposal, the new price was fixed.

However, the soybean oil prices will be refixed after the holy Eid-ul-Fitr.

Earlier on January 29, Prime Minister Sheikh Hasina ordered a reduction in the duty of four essential commodities at a cabinet meeting. These products are rice, edible oil, sugar and dates.