Govt cuts palm oil price by Tk 19 per liter

The government has reduced the price of palm oil by Tk 19 per liter, bringing the new retail price down to Tk 150, Commerce Secretary Mahbubur Rahman announced at a press conference held at the Ministry of Commerce on Tuesday.

The decision comes in response to declining prices in the international market, the secretary said. However, no change has been made to the price of soybean oil, which remains at Tk 189 per liter for bottled oil, due to stable prices in the global market.

“The price of palm oil has been reduced to Tk 150 per liter from Tk 169, following recommendations from the Bangladesh Trade and Tariff Commission,” said Secretary Rahman. “The commission closely monitors global and local supply and demand trends. The recent drop in international prices of palm oil prompted this adjustment.”

The new price is expected to provide some relief to consumers amid rising living costs, although soybean oil prices remain unchanged for now.