Govt cuts soybean oil price, now a litre is Tk 185

The government today reduced the retail price of bottled soybean oil by Tk 14 to Tk 185 a litre, down by 7.03 per cent from the Tk 199 per litre thanks to its declining global prices.

The new price will come into effect from tomorrow, Senior Commerce Secretary Tapan Kanti Ghosh told The Daily Star over phone.

The government set the price in consultation with the millers and refiners at a meeting in the commerce ministry in Dhaka today.

The millers also agreed to reduce the price of palm oil by Tk 6 per litre to Tk 152 a litre, Ghosh also said.

The new price of five-litre bottles of soybean oil will be Tk 910, down from Tk 980, he said.