The government revised maximum retail price (MRP) of palm oil and sugar on Thursday by reducing prices of the essentials, effective from Sunday.
The Ministry of Commerce (MoC), as per recommendations of the Bangladesh Trade and Tariff Commission, has reduced palm-oil price by Tk 12 a litre to Tk 133 a litre, while its mill-gate price has been fixed at maximum Tk 128 a litre and dealer rate at Tk 130 a litre.
The MRP of refined loose sugar has been set at Tk 84 a kg from Tk 89 earlier and refined packet sugar Tk 89 a kg from Tk 95, according to a MoC notification.
The MRP of refined loose sugar at mill-gate has been set at 79 a kg and Tk 81 a kg at dealer's level. The company rate of packet sugar has been fixed at Tk 82 a kg, while its dealer price at Tk 84 a kg.
On August 30, the MoC announced that it would fix the prices of nine essentials, including rice, coarse and finer flour, soybean oil, palm oil, sugar, lentil, MS rod, and cement.
Later, the ministry backtracked from its decision, and the commerce minister told the media that it would fix prices of edible oil and sugar only.
The minister also urged the Ministry of Agriculture to fix prices of other essentials.
Meanwhile, loose sugar was selling at Tk 90-95 a kg and packet sugar at Tk 95-100 a kg in the city groceries on Thursday.
Super palm oil was retailing at Tk 150-155 a litre by vendors in different markets, which was higher than the current MRP of Tk 145 a litre, according to trading sources.