Bangladesh Vegetables Oil Refiners and Vanaspati Manufacturers Association has announced selling of bottled soyabean oil at Tk 185, reducing by Tk 14 per litre.

It said the announcement would come into effect from Thursday (July 21).

However, the prices of soyabean and palm oil at Khatunganj Wholesale Market in the port city of Chattogram have drastically fallen. But, the traders are reluctant to sell the edible oils at such lower prices right now.

The association also informed the Ministry of Commerce through a letter on Wednesday (July 20) addressing a senior assistant secretary concerned.

Soyabean oil being sold at new prices

Soyabean oil being sold at new prices

According to the new prices, unpacked soyabean oil will be sold at Tk 166 per litre, while bottled soyabean oil at Tk 185 per litre and 5-litre bottled soyabean oil at Tk 910.

On the other hand, palm oil price has been lowered just by Tk 6 per litre and will be sold at Tk 148 a litre.

A notice signed by the association's executive officer Md Nurul Islam, said that decision has been taken to reduce edible oils in the country's market in the context of falling in prices in international market. The Bangladesh Vegetables Oil Refiners and Banaspati Manufacturers Association has coordinated the prices of edible oil in the following manner.

Earlier on Sunday (July 17), Biswajit Saha, director of City Group, an edible oil marketing company, confirmed about reducing edible oil prices.