Palm oil prices cut by Tk 19/litre

The government has cut palm oil prices by Tk 19 per litre to Tk 150 per litre, while that of bottled soybean oil remains unchanged at Tk 189 per litre. Commerce Secretary Mahbubur Rahman announced this at a press conference at his Secretariat office in the capital on Tuesday.

The government made the cut based on suggestions from the state-run Bangladesh Trade and Tariff Commission (BTTC) as palm oil prices are currently stable in the global market.

The commerce secretary said palm oil accounts for around 60 per cent of the country's edible oil market.

The decision to reduce its prices was made considering the international market situation, he said.

Soybean and palm oil prices were last fixed on April 15 by the government and leaders of local edible oil refiners' associations.

The maximum retail price of bottled soybean oil was set at Tk 189 per litre, and non-bottled palm oil at Tk 169 per litre.

rezamumu@gmail.com