Edible oil price may decrease, hints Tipu Munshi
PBC News: Commerce Minister Tipu Munshi has said the price of edible oil may decline in the country as the prices in the international market have started to fall.
“The good news is that the palm oil prices have come down. Soybean oil price is also declining. The new price will be determined by reviewing the data of May,” the minister came up with information at a press briefing held at the conference room of the commerce ministry on Thursday.
Oil prices have started to fall in the international market and Indonesia has also lifted its export ban on palm oil as per information, he said.
Minister Tipu Munshi said, “There is a low possibility of price rising after the review, but it might fall.”
The price of bottled edible oil stood at Tk 200 per litre on Thursday, up 20 per cent from Tk 170 per litre a month ago, data from the Trading Corporation of Bangladesh showed.
