Area
Bangladesh
Commodity Group
Oilseeds, oils and meals
Commodity
Soyoil, palm oil
Date
01/10/2020
Policy Category
Consumption and marketing
Policy Instrument
Market regulation
Description
Reached an agreement with importers/processors of edible oils to lower the millgate price of loose non-branded soy and palm oil, in a bid to give relief to consumers as local prices of essential food items rose amid the COVID-19 crisis.
Notes
BANGLADESH market regulation: In October, the Commerce Ministry and importers/processors of edible oils reached an agreement to lower the price of loose non-branded soyoil and palm oil at mill gate by BDT 2 per litre, in a bid to give relief to consumers as local prices of essential food items have risen amid the COVID-19 crisis. Reportedly, the per-litre price of soy and palm oil has been fixed at BDT 90 and BDT 80 (USD 1.06 and USD 0.94), respectively.
