AreaBangladesh

Commodity GroupOilseeds, oils and meals

CommodityPalm oil, soyoil

Date07/02/2024

Policy CategoryTrade

Policy InstrumentImport policy

DescriptionReduced the value added tax (VAT) on soyoil and palm oil imports from 15 percent to 10 percent, and announced a VAT exemption on locally produced edible oil. These measures will be effective until 15 April 2024, aiming to stabilize domestic prices during the month of Ramadan.