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The 5 per cent regulatory duty imposed on the import of rapeseed may cause the price of mustard oil to shoot up and go beyond the purchasing power of consumers, millers said.
The hike will affect the consumers at a time when low and middle-income people are already struggling to afford soybean oil, whose price has gone up five times in the last five months, and other essential items.
While placing the budget for 2021-22 in parliament on June 3, Finance Minister AHM Mustafa Kamal imposed the regulatory duty on the import of rapeseed or mustard seed.
The import duty on oil cake, a feed that is produced during the extraction of mustard and sunflower oil, has been cut, a move that will hurt the domestic industry, said millers.