Soybean oil to sell at new price from tomorrow

The new price of soybean oil is set to come into effect tomorrow, Friday, which will decrease by Tk 10 per litre.

The decision was taken at a meeting of the task force on monitoring the market situation and commodity prices at the commerce ministry on 20 February, with state minister for commerce Ahasanul Islam in the chair.

Later, CityGroup director (corporate and regulatory affairs) Bishwajit Saha told Prothom Alo that soybean oil price will come down by Tk 10 per litre. He further said that a new price will be fixed after the Eid-ul-Fitr.

In the meeting, the state minister for commerce requested the tradespersons to cut the soybean price, citing that the National Board of Revenue (NBR) has cut the duty for edible oil by Tk 5 litre.

“The government has exempted Tk 5 (per litre). Please exempt Tk 5 as Ramadan is knocking at the door,” he told the traders.

The millers and oil refiners who attended the meeting complied with the request.

As a result, the bottled soybean oil will be sold at Tk 163 per litre instead of existing Tk 173 from 1 March while the price of 1 litre loose soybean oil will be Tk 149.