The price of both packaged and unpackaged soybean oil is set to be reduced by Tk10 per litre. 

As a result, a one-litre bottle of packaged soybean oil will be sold at Tk163 and unpackaged soybean oil will be sold at Tk149.

The new rates will be effective from March 1. 

State Minister for Commerce Ahasanul Islam Titu made the announcement after a meeting at the Commerce Ministry on Tuesday.

However, the state minister said that the price of palm oil is not being reduced for the time being. 

"Although the NBR has reduced the duty on edible oil by Tk5, the mill owners or refiners have announced to reduce the price of edible oil by Tk10 per liter ahead of Ramadan,” he said.

Mentioning that there are opportunities to import onions from India, the state minister said: “When the official decision comes from India, I will disclose it to you.”

Apart from India, the process of facilitating border trade of consumer goods with Myanmar is underway, the state minister said.