Govt cuts loose palm oil price by Tk 19 per litre

The government has reduced the retail price of loose palm oil by Tk 19 per litre, bringing it down from Tk 169 to Tk 150, following a decline in prices on the international market.

Commerce Secretary Mahbubur Rahman announced the new price at a press conference held at the Ministry of Commerce in the capital on Tuesday, in the presence of Commerce Adviser Sk. Bashir Uddin.

He, however, said the price of bottled soybean oil will remain unchanged at Tk 189 per litre.

The commerce secretary also mentioned that palm oil constitutes around 60 per cent of the total edible oil consumed in the domestic market.