- NBR waives VAT on refined and unrefined soybean and palm oil to control cooking oil prices
- VAT reduced from 15% to 5% on import of soybean and palm oil
- Prices of soybean and palm oil have been increasing in the international market
- Price of loose edible oil has risen due to supply shortage and price hike
- Cooking oil traders in Dhaka have seen price increases of Tk 10-15 per litre
- Total demand for cooking oil in the country is 2.2 million tonnes, with production at 2.50 lakh tonnes and import at 23 lakh tonnes in FY 2023-24.
Source: observerbd.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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