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Bangladesh forms committee on cooking oil after price hike


 
Staff Correspondent, 
bdnews24.com
Published: 24 Jan 2021 05:40 PM BdST
Updated: 24 Jan 2021 05:40 PM BdST
The Ministry of Commerce has assembled a committee to set the prices of edible oil in keeping with the international market.
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Commerce Minister Tipu Munshi announced the decision after a weekly meeting of the ministry’s commodity price monitoring cell on Sunday.
Bangladesh imports 90 percent of its cooking oil. “The surge in prices in the international market has an impact,” he said.
Cooking oil was sold at $700 per tonne in July and rose to as high as $1,190 before settling down to $1,100. “It means global prices have left an impact on the local markets,” Munshi said. ....

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