Price of bottled soybean oil has been reduced by Tk 14 per litre. The new price will be Tk 178 per litre.

The new price will be effective from tomorrow across the country, according to a notice issued by Bangladesh Vegetable Oil Refiners and Vegetable Manufacturers Association (BVORVMA), an association of owners of edible oil refining and marketing companies.

This brings down the bottled soybean oil price by 7.29 percent, said a notice signed by Nurul Islam Molla, the executive officer of the association.

The new price of five-litre bottle of soybean oil will be Tk 880, down from Tk 945. Similarly, unbottled soybean oil will be retailed at Tk 158 per litre.

According to a circular, members of the Edible Oil Owners Association met Prime Minister's Private Industry and Investment Adviser Salman F. Rahman and Prime Minister's Senior Secretary Tofazzal Hossain Mia regarding the unusual hike in US dollar exchange rate and the complications in opening LCs.

City Group Chairman Fazlur Rahman, Meghna Group Chairman Mustafa Kamal and TK Group MD Mostafa Haider were present at the meeting.

After a detailed discussion on dollar appreciation and complications of LC opening, the price of edible oil was reduced by Tk 14 per liter for the convenience of consumers.

Price of unbottled soybean oil has been reduced by Tk 17 per litre, and 5 litre bottled soybean oil by Tk 65.