Bangladesh: Tk10 soybean oil price cut not seen on the store shelf

Even though the government reduced the price of soybean oil by Tk10 per liter and palm oil by Tk2 per liter three days ago, consumers have yet to get any relief as traders have not reduced prices as of Friday. As per newly set prices, the bottled soybean oil has dropped by Tk10 per liter to Tk179 and loose soybean oil has dropped by Tk8 to Tk159 per liter. But the benefit of such measures was not evident at the capital's kitchen markets, including at Karwan Bazar on Friday. On a visit to Karwan Bazar, The Business Standard found that a liter of bottled soybean oil was sold for the previous price of Tk189 and loose soybean oil is Tk165-170. A five-liter container was selling for Tk900-Tk910 depending on the kitchen markets. According to the reduced rates, a five-liter bottle of soybean oil will cost Tk873, down by Tk43 from the previous price which is expected to be in effect from the next day. Traders said the soybean oil marked with new prices has not yet reached them. So, they ...