Retail edible oil price to reduce by Tk 5 per litre

Refiners and businesspeople have decided to cut the wholesale price of cooking oil by Tk 5 per litre, which will be from Saturday.

The price reduction came following a meeting between Commerce Minister Tofail Ahmed and leaders of Bangladesh Vegetable Oil Refiners and Vanaspathi Manufacturers Association at the ministry in Dhaka today.

“The edible oil businesspeople agreed to reduce the price after I requested them to do so on behalf of the consumers, saying that the price in the world market has gone down,” the commerce minister said in a statement. 

After the meeting, City Group Chairman Fazlur Rahman, also a leader of the association, informed reporters about the cut in wholesale price. He also added that the cut in the wholesale price will have a positive impact on retail prices.