Bangladesh: Soybean oil prices to drop by Tk10 per liter before Ramadan

The government has decided to reduce soybean oil prices by Tk10 per liter ahead of the month of Ramadan. The new prices will come into effect from March 1, State Minister for Commerce Ahsanul Islam Titu told the media after attending the task force committee meeting on commodity price review at the commerce ministry today. "Although NBR reduced Tk5 per liter in tariffs for edible oil, mill owners and oil refiners have announced a Tk10 reduction per liter ahead of Ramadan. The new rates will be effective from 1 March," he said. With the reduced rate, a one-liter bottle of soybean oil will cost Tk163, down by Tk10 from the current price of Tk173. Meanwhile, loose soybean oil will cost Tk149 per liter after price adjustment. The state minister also noted that there is currently no plan to reduce palm oil prices. While providing an update on the import of onions from India, Ahsanul Islam said, "We've had verbal discussions regarding the resumption of Indian onion imports. However, we ...