Soybean oil price drops by Tk10 per litre

The commerce ministry has decided to reduce the price of bottled soybean oil by Tk10 per litre. At the same time, the price of palm oil has been reduced by Tk2 to Tk133 per litre at the retail level.

This decision, taken during the 7th meeting of the high-level task force for controlling commodity prices, aims to provide relief to consumers. Effective immediately, bottled soybean oil will be sold at Tk189 per litre, while loose soybean oil will be available at Tk167 per litre.

Tapan Kanti Ghosh, senior secretary of the commerce ministry, confirmed the matter and mentioned that further reductions in the price of edible oil are under review.

He assured the public that efforts are underway to decrease the prices even more. During the meeting, which was chaired by the commerce secretary and attended by FBCCI representatives and various business organisations, other matters were also discussed.

The stakeholders deliberated on maintaining stable prices for essential products with increased demand during the upcoming Eid-ul-Adha. One of the issues addressed was the scarcity of ginger in the market. The authorities have initiated efforts to find a solution to this problem.

Additionally, the meeting highlighted a decline in wheat imports by 2.4 lakh tonne and sugar imports by 72,000 tonne over the past year. The impact of these reduced imports has had an effect on the market dynamics.

Tapan Kanti Ghosh further informed that measures are being taken to normalise the prices of other commodities as well. The government remains committed to ensuring a balanced and affordable market for essential goods and products, he added.

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