Dollar jump hindering benefits of soybean oil price drop: Tipu Munshi
Commerce Minister Tipu Munshi said that the tariff commission will hold a meeting to discuss edible oil price adjustment
Despite the fall in the price of soybean oil in the global market, the increase in the price of the US dollar isn't letting the country reap the benefits, said Commerce Minister Tipu Munshi.
"Price of soybean oil decreased in the international market, but the increase of dollar price in the country is not let us benefit," the commerce minister while speaking to the media after the cabinet meeting at the secretariat on Thursday (11 August).
Prime Minister Prime Minister Sheikh Hasina presided over the meeting virtually from the Gono Bhaban.
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When asked if the price of soybean oil will be adjusted in another, the commerce minister said, "They (tariff commission) will sit soon. Because the businessmen have made a demand, it will be discussed whether it is reasonable or not. The tariff commission will sit within a week."
In response to the questions from the journalists, the commerce minister said that the price of fuel oil is still low in Bangladesh compared to the neighboring countries.
