Consumers in Bangladesh saw no drop in soybean and palm oil prices over the past week even though the National Board of Revenue (NBR) has reduced an import VAT from 15 percent to 10 percent.

There is a huge hue and cry about the recent unprecedented price hike of soybean oil.

Indonesia, the world’s biggest supplier of edible oils, has decided to lift the ban on palm oil exports, a development that is expected to bring much-needed relief to the consumers in Bangladesh struggling to afford the cooking oil because of skyrocketing prices.

The situation is really concerning and the government must do everything to keep the cooking oil market stable.

Govt must open eyes to consumers' unending sufferings

Edible oil prices see the biggest increase in Bangladesh’s history as the government moves to put an end to the unprecedented crunch of the essential cooking item.