The retail prices of palm and soybean oil have been reduced by Tk 4 and Tk 5 a litre respectively in the country.

The new price rate will be effective from December 18, the commerce ministry said in a circular today.

As per the new rate, one-litre bottled soybean oil will be sold at Tk 187 instead of Tk 192 while loose soybean at Tk 167 instead of Tk 172 and palm oil (super) at Tk 117 against Tk 121.

However, the price of five-litre bottled soybean oil has been fixed at Tk 906 instead of Tk 925.

The government took the decision after scrutinising the current import, stock and prices of the essential cooking ingredient, according to the circular.