The consumers will now be able to buy a litre of edible oil at Tk 141 as the refiners and manufacturers have reduced the price by Tk 3 per litre.
Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association took the decision today following the request of the commerce ministry.
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The refiners and manufacturer revised the prices of the necessary cooking ingredient eight days after they raised the prices by Tk 5 per litre.
The association has 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, it said in a press release.
This price 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 not long ago.
Similarly, the price of loose soybean oil rose to Tk 122 per litre from Tk 117 while loose palm oil prices were fixed at Tk 113 per litre, up from Tk 109 last month.
Earlier on April 19, 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 edible oil prices.