The price of edible oil has been reduced by Tk 53 per litre in the Chaktai-Khatunganj wholesale market in Chattogram in line with the reduction of price in the international market.
"The price of palm oil has reduced by Tk 2,000 and soybean oil by over Tk 1,000 for every 37.32 litres in Chaktai-Khatunganj wholesale within 15 to 20 days," Alamgir Parvez, a leading wholesaler in Khatunganj, said, reports BSS.
He said the edible oil price would reduce more as the international market is witnessing a gradual price fall and added that Tk 500 to Tk 600 would be cut for every 37.32 litres of oil within a week after importing the essential commodity under the new LC.
General Secretary of Chaktai-Khatunganj Wholesale General Traders Welfare Association Mohammad Mohiuddin said the wholesale market has witnessed a huge price fall of edible oil as the price of palm oil has reduced from Tk 4,300 to Tk 4,350 from Tk 6,300 within one month.
Noting that the imported products are sold at the Chaktai-Khatunganj market in line with the international market, he said, "But it is a matter of sorrow that the oil is still being sold at a higher price in the retail market".
The government on Sunday, however, reduced the price of per litre bottled soybean oil by Tk 14 in the domestic market in line with the reduction of price in the international market.
Besides, the government has also decided to reduce the price of palm oil by Tk 6 per litre to stand at Tk 148 from the existing Tk 154.
After the price cut, the price of per litre bottled soybean oil stood at Tk 185 and per litre of loose soybean oil at Tk 166 while the price of a five-litre soybean jar has been fixed at Tk 910.