<div><span style="font-size: 1rem;">The price of soybean oil has been reduced by Tk6 per liter, which will be workable from Monday.</span><br></div><div><br></div><div>The Bangladesh Vegetable Oil Refiners and Vegetable Manufacturers Association (BVORVMA), an association of owners of edible oil refinin and marketing companies, on Sunday gave the announcement.</div><div><br></div><div>According to BVORVMA, the maximum price of per liter bottled soybean oil will be fixed at Tk199 from Tk205, while 5 liters bottled soybean price will be fixed at Tk980 from Tk997. The loose soybean oil will be sold at Tk180 per liter instead of Tk185 per liter.</div><div><br></div><div>As per the instructions of the Commerce Ministry, the BVORVMA has reduced the edible oil price adjusting soybean price with the global market.</div><div><br></div><div>However, the price of crude soybean oil decreased by 26% in the global market.</div><div><br></div><div>Bangladesh imports large quantities of soybean oil from Argentina, a South American country. The price of crude soybean oil imported from the country has decreased in the last 30 days.</div><div><br></div><div>The Bangladesh Trade and Tariff Commission (BTTC) calculated that the price of crude soybean oil in Argentina last Wednesday was $1464 per tonne, which was $1970 per tonne just a month ago.</div><div><br></div><div>This means that the price of crude soybean oil has dropped by about 26% in the last 30 days.</div><div><br></div><div>Not just soybean oil, the trend of rising commodity prices in the world market has now started to decline. Prices of rice, edible oil, wheat, sugar and lentils are decreasing.</div><div><br></div><div>bnbd24/TR</div>