Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has reduced the price of edible oil by Tk 3 per liter.
The refiners and manufacturers revised the prices of the oil eight days after they raised the prices by Tk 5 per litre.They have decided to give a discount of Tk 3 per litre at the request of the ministry of commerce, considering the purchasing limit of consumers during the holy month of Ramadan and the Covid-19 pandemic, the association said in a press release on Monday.
The price of edible oil will be at Tk 141 as per the new decision. It will be effective until the Eid ul-Fitr and it would be adjusted after the Eid following the prices at the international market, it said.
From April 25, the association hiked the retail price of branded soybean oil to Tk 144 from Tk 139 per litre, while the cost of a five-litre bottle was set at Tk 685, up from Tk 660.
Similarly, the price of loose soybean oil (not bottled) rose to Tk 122 per litre from
Tk 117 while the loose palm oil price was fixed at Tk 113 per litre, up from Tk 109.
Earlier on April 19, the Vanaspati Manufacturers Association, the association of edible oil importers and manufacturers, sent a letter to the Bangladesh Trade and Tariff Commission to inform them of their decision to raise the edible oil prices.