- Edible oil prices in Bangladesh have risen despite a VAT cut
- The National Board of Revenue reduced import VAT from 15% to 10%
- Prices of soybean and palm oil have not dropped for consumers
- Inflation has been over 9% since March 2023
- Prices of unpackaged palm oil are at Tk 148-149 per litre, up 0.34% from a week ago
- Prices of unpackaged soybean oil are at Tk 155-160 per litre, up 2% from a week ago
- Spiralling palm oil prices are affecting other edible oils
- World Bank data shows palm oil prices have soared
- Indonesian palm oil exports have dropped due to supply shortfall
- Implementation of higher biodiesel mandates in Indonesia may tighten palm oil supplies
- Bangladesh Edible Oil Wholesalers Association sees no effect of VAT reduction on prices
Source: thedailystar.net
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.
