Govt publishes notice on soybean oil price cut

The government has published a notice on the reduction of soybean oil prices by Tk 14 per litre, 11 days after the refiners announced the decision.

The notice on Thursday said the commerce ministry approved the decision in a meeting on Oct 6.

​​As per a decision by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association on Oct 3, the price of a 1-litre bottle of soybean oil was cut to Tk 178 from Tk 192.

The price of unbottled soybean oil was cut to Tk 158 from Tk 172 per litre. The price of a 5-litre bottle has been set at Tk 880.

The cooking oil manufacturers said they recently met with Salman F Rahman, the prime minister’s adviser on private industry and investment, and Tofazzel Hossain Miah, secretary to the Prime Minister’s Office, to discuss the jump in the price of the dollar, the difficulty of opening a line of credit and consumer welfare.

Following the meeting, the decision was taken to cut the price of soybean oil.