Govt cuts palm oil, sugar prices

Industry Desk: The commerce ministry has reduced the price of palm oil by Tk12 per litre yesterday following a recommendation of the Bangladesh Trade and Tariff Commission (BTTC).
The new price – Tk133 per litre – of palm oil will be effective from 25 September, said a notice of the ministry.
Meanwhile, prices of packaged and loose sugar have also been cut by Tk6 and Tk8 per kg respectively.
Packaged sugar price has come down to Tk89, from Tk95. Loose sugar will be sold at Tk84, which was previously worth Tk92. Earlier, Bangladesh Trade and Tariff Commission (BTTC) recommended setting the price of palm oil at Tk133 per litre considering the price situation of the world market and import cost.
The commission believes the price of soybean oil is reasonable at present.
On 30 August, the Ministry of Commerce announced the decision to fix the prices of rice, atta, flour, soybean oil, palm oil, sugar, lentil, MS rod and cement.
Palm oil and sugar were being sold at higher rates than recommended by the BTTC. According to the Trading Corporation of Bangladesh (TCB), palm oil was priced at Tk145 to Tk150 per litre, sugar Tk90 to Tk95 per kg and soybean oil Tk185 to Tk192 per litre in the retail market on Tuesday.