Refiners cut soybean oil, sugar prices

Refiners have cut edible oil and sugar prices by 3 percent or Tk 5 a litre/kilogramme.

The processors in two separate press statements said yesterday that they reduced the prices of the two essential commodities thanks to a fall in their international rates.

The reduced retail prices of soybean oil will be Tk 174 per litre, down by nearly 3 percent from Tk 179.

The new price of each five-litre bottle of the cooking oil will be Tk 850.

Similarly, Bangladesh Sugar Refiners Association (BSRA) cut sugar prices in line with the fall in the raw sugar prices in the global market.

After the reduction, consumers will be able to buy packaged sugar at Tk 135 a kg, down by 3.5 percent from the earlier rate.

Loose sugar prices will be Tk 130 a kg, down from Tk 135.

The revised prices of sugar and soybean oil will be effective from today, according to BSRA and Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association.

Imports meet more than 90 percent of its annual requirements for edible oil and sugar because of its very low domestic production.