Retail price of bottled soybean oil dropped by Tk 8 to Tk 160 a litre following the reduction of value added tax (VAT) on import, production and marketing of the edible oil.
Commerce secretary Tapan Kanti Ghosh disclosed the newly fixed price to the newspersons after a meeting with the representatives of the edible oil refinery companies at the secretariat in Dhaka on Sunday.
Tapan Kanti Ghosh said price of a five-litre soybean oil bottle was slashed by Tk 35 setting the price at Tk 760 a bottle while price of loose soybean oil has been cut by Tk 7 to Tk 143 a litre.
The reduced price would be effective at the mills on Monday and at consumer level after 5-6 days, he added.
The commerce secretary said price of palm oil has not been fixed yet. A meeting is scheduled to be held with the owners of the edible oil factories and price would be fixed there, he added.
