In light of the declining price of crude soybean oil on the international market, the Ministry of Commerce expects the price of the oil to drop soon in Bangladesh.
Tapan Kanti Ghosh, senior secretary at the ministry, said: “We are hoping the price of soybean oil will also drop in Bangladesh. The owners of the refineries and marketing companies will be called soon to adjust the prices.”
He made the statements at a media call convened by the World Trade Organization (WTO) on Sunday.
“We are not sure how much the prices will drop, because dollar rates have also increased recently,” he added.
Soybean oil prices increased five times from October 2021 to June 2022 in the local market.
The price of crude soybean oil in the global market dropped by 22.18% to Tk130.28 per litre on June 17 earlier, compared to Tk167.42 a month back.
