Unpackaged soybean oil price reduced by Tk 2 per litre

The price of unpackaged soybean oil has been reduced by Tk 2 to Tk147 per litre.

State Minister for Commerce Ahsanul Islam Titu on Thursday announced this price of soybean oil at the Secretariat in the city, reports BSS.

However, the price of bottled soybean oil has been hiked by Tk 4 to Tk167 per litre while the price of palm oil per liter bottle has been set at Tk 135.

Meanwhile, the price of 5 litre bottled soybean oil has been increased from Tk800 to Tk 818.

Earlier on 7 February, the National Board of Revenue gave a 5 percent VAT exemption on the import of raw materials of edible oil at the request of the Ministry of Commerce.

The ministry reduced the price of bottled soybean oil by Tk10 to Tk163 per litre after VAT exemption.

After the exemption's validity expired on 15 April, the executive officer of the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association sent a letter to the commerce secretary on the same day requesting that the price of bottled soybean oil be increased by Tk10 to Tk173.