The government took a decision to cut the edible oil price by Tk10 per litre and fixed the maximum retail price of per-litre bottle of soybean oil at Tk 189.

Tapan Kanti Ghosh, senior secretary of the commerce ministry, announced the decision at a press briefing at Secretariat in the capital.

The price reduction will come into effect "within a few days", he said.

As per the new rates, the price of loose soybean oil has been fixed at Tk 167 and bottled soybean oil at Tk 189 per litre. The price of palm oil has been cut by Tk 2 per litre to Tk 133.