Soybean and palm oil price decreases

Soybean and other edible oils are becoming slightly cheaper as the refiners decided to decrease the price from Wednesday.

The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association (BVORVMA) in a statement informed this on Tuesday.

As per the decision, the price of bottled soybean oil decreased by Tk 10 to Tk 179 per liter and the price of loose soybean oil dropped by Tk8 to Tk159 per liter.

According to BVORVMA, a 5-litre bottle of soybean oil will cost Tk 873, down by Tk 43 from the previous price. The price of loose palm oil has been reduced by Tk5 per liter to Tk128 while bottled palm oil prices have been reduced by Tk 12 per liter to Tk 148.

The new rates have been fixed following discussions with the commerce ministry and the Bangladesh Trade and Tariff Commission, the statement mentioned.