The government on Sunday reduced the retail price of bottled soybean oil by Tk14 to Tk185 a litre, lowering it by 7.03% from the previous rate of Tk199 per litre, citing declining prices in the global market.
The new price will come into effect from Monday, Senior Commerce Secretary Tapan Kanti Ghosh told the media.
The government set the price in consultation with the millers and refiners at a meeting in the Commerce Ministry in Dhaka on Sunday.
The millers also agreed to reduce the price of palm oil by Tk6 to Tk152 a litre, Ghosh also said.
The new price of five-litre bottles of soybean oil will be Tk910, down from Tk980, he added.
The price of retail soybean oil had previously decreased by Tk6 per litre, from Tk205 to Tk199 on June 26.
Bangladesh mainly imports soybean oil from Argentina.
