Edible oil refining companies have decided to reduce the price of soybean oil by Tk 10 per liter from March 1.
Star Business Report
Tuesday February 20, 2024 02:58 PM Last Updated: Wednesday February 21, 2024 11:01 AM
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Edible oil refining companies have decided to reduce the price of soybean oil by 10 rupees per liter from March 1.
Officials of importers and processing companies said that consumers can buy soybean oil at the rate of Tk 163 per liter.
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Biswajit Saha, director of corporate and regulatory affairs at Citigroup, said, “However, no decision has been taken to reduce the price of palm oil.”
State Minister for Commerce Ahsanul Islam Titu advised to reduce the price of soybean oil in a meeting with the officials of the Ministry of Commerce and the consumer goods processors.
Earlier, on February 8, the National Board of Revenue decided to reduce duty on rice, sugar and dates and withdraw VAT on import of edible oil, bringing down the prices of the four commodities.
Biswajit Saha said that the reduction in duty and VAT has had an impact of Rs 5 per litre. But according to the instructions of the ministry, the refiners have decided to reduce the price by 10 taka per litre.
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