Soybean oil imports, both in crude and seed forms, declined marginally in Bangladesh in the current fiscal year as businesses are cautious in buying the raw materials at higher volumes despite surging prices of edible oil locally amid concerns that higher prices would drive down consumption.
Edible oil consumption rises 20pc in 5 years thedailystar.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thedailystar.net Daily Mail and Mail on Sunday newspapers.
In recognition of its efforts and investments in food fortification and infrastructure, culminating in Nigeria’s first state-of-the-art vitamin premix facility, Crown Flour Mill Limited (CFM), the flour milling subsidiary of Olam Nigeria, an agribusiness conglomerate, has received widespread commendation for consistently delivering highly fortified, quality and affordable food staples that meet global standards and improve public health.
This assertion was made at a Food Fortification webinar, organised by the Global Alliance for Improved Nutrition (GAIN), on Wednesday, June 30, 2021, the flour milling company has successfully ramped up its food processing methodology through quality partnership and acquisition of a state-of-the-art premix facility to provide food products that improve the health of the Nigerian population.
Scaling up innovation for a fortified future – part I - fortification quality digitization gainhealth.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gainhealth.org Daily Mail and Mail on Sunday newspapers.
The hike had come about on April 25.
It took one-litre bottles of branded soybean oil to Tk 144 from Tk 139, that sold loose to Tk 122 and a five-litre branded bottle Tk 685, up from Tk 660 not long before. Loose palm oil will cost Tk 113.
This is the fifth rise in three months, reasoned as a ripple effect from international markets.
Another hike has been proposed as international rises are leading to losses, said Md Shafiul Ather Taslim, director for finance and operations at TK Group, a leading importer and processor of essential goods.
A government decision is likely within a week, he said, without elaborating further.