Indonesia is due to resume exports of palm oil on Monday after a ban of more than three weeks, but industry traders and companies were awaiting details on accompanying rules to secure domestic supplies of the edible oil to control cooking oil prices.
Today, soybean oil, a preferred edible oil for food preparation at home, is traded at around Tk 200 per litre at retails, the highest on record in Bangladesh.
The seizure of hundreds of thousands of litres of hoarded edible oil in the last one week has proved the claim that unscrupulous traders created the crisis to be able to sell cooking oil at higher prices.