Soybean oil, sugar prices cut

Refiners have cut the maximum retail prices (MRP) of bottled soybean oil and packaged sugar by Tk 5.0 each to Tk 174 per litre and Tk 135 per kg.
The MRP of a five-litre soybean oil jar has been reduced by Tk 23 to Tk 850, according to a statement issued by the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association on Sunday.
Loose soybean oil price has been fixed at Tk 154 per litre from Tk 159.
Meanwhile, loose sugar has been fixed at Tk 130 per Kg from Tk 135, according to another statement issued by the Bangladesh Sugar Refiners Association on the day.
The new rates take effect today (Monday).
The refiners said they adjusted the prices based on global price situation and production cost.
On July 11 last, the edible-oil refiners cut the MRP of bottled soybean oil by Tk 10 to Tk 179 per litre.
In May last, the prices of packaged and loose sugar were fixed at Tk 125 per kg and Tk 120 per kg respectively, following a suggestion of Bangladesh Trade and Tariff Commission (BTTC).
However, a market source said the refiners had increased the price of sugar by Tk 15 to Tk 140 per kg, well beyond the government-fixed price of Tk 125, and now they reduced it by Tk 5.0 only. That means the price of sugar is still Tk 10 higher than the government-fixed price.
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