BUSINESS

Edible oil prices to drop soon: Commerce secretary

In a relieving development, Bangladeshis are likely to see a decline in the prices of edible oil within two days as the product gets cheaper in the global market.

Commerce Ministry Tapan Kanti Ghosh said, “Good news will come in a day or two about the prices of edible oil. We are focusing on re-fixing the prices of edible oil and the Tariff Commission will sit with the oil refining companies to fix the new prices”.

He revealed this information while responding to a question from reporters at a press briefing organized on the occasion of the 12th Ministerial Conference of the World Trade Organisation at the secretariat on Sunday.

Bangladesh import soybean oil from Paraguay, Brazil, and Argentina and it takes 45 to 60 days to arrive in Bangladesh, he said.

On June 9, the bottled soybean oil price jumped to Tk205 per liter, an increase by Tk 7.

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