The government has announced a reduction of 19 taka per liter in the price of palm oil, lowering it to 150 taka per liter in the domestic market following a decline in international prices.
Previously, the price of palm oil was fixed at 169 taka per liter. However, the price of soybean oil remains unchanged at 189 taka per liter for a bottled one-liter pack.
The new price was announced on Tuesday at a press conference held at the Ministry of Commerce by Commerce Secretary Mahbubur Rahman.
He explained that both soybean oil and palm oil prices are linked to international markets. Recently, palm oil prices have dropped globally, prompting the local price reduction. In contrast, soybean oil prices have remained stable in the international market.
“Palm oil accounts for 60 percent of the total oil consumption in the country. Usually, we hear news about price increases, but today we bring you the news of a price decrease,” he said.
The last price adjustment for soybean and palm oils was made on 15 April when soybean oil prices were raised by 14 taka per liter to 189 taka. Prior to that, the most recent increase for bottled soybean oil was on 9 December, setting the price at 175 taka per liter.
