It wants the exemption deadline, set to expire on March 31, to be extended until June 30
"There is no shortage of daily essentials now. But the supply of soybean oil is slightly less, which cannot be denied, but I hope the situation will improve from today,” the adviser told reporters after visiting Mohammadpur Town Hall kitchen market in the afternoon.
The tax administration issued a notification in this regard yesterday, which was made public today
The Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association has reassured consumers and traders that there is no supply shortage of bottled edible oil in the local market.
Tariff commission recommended reducing VAT on imports of oil to 10 percent
The government yesterday decided to buy edible oil and lentils worth Tk 350 crore from five local firms in order to sell them among the poor and low-income people at subsidised rates.
The lower import duty structure on crude palm oil, crude sunflower oil and crude soyoil was set to expire in March 2024
Agribusiness in Bangladesh, including food processing and associated machinery production, has the highest potential among eight emerging sectors, with domestic market sales estimated to reach $8 billion by 2025, according to Bangladesh Investment Development Authority (Bida).
Loose soyabean oil price up Tk 9 per litre, 5-litre bottle up Tk 54
The National Board of Revenue (NBR) is likely to provide a scope to edible oil refiners to import the essential cooking ingredient by paying only 5 per cent Value Added Tax (VAT) until September 30, an official said today.
Even though prices of loose palm and soybean oil have dropped in wholesale markets, consumers are not being able to reap the benefits as retailers are still selling those at the government-fixed prices.
There is a huge hue and cry about the recent unprecedented price hike of soybean oil.
The situation is really concerning and the government must do everything to keep the cooking oil market stable.
Bangladesh Competition Commission yesterday filed cases against eight importer companies for manipulating the production and supply of edible oil in the country.
A mobile court in Pabna yesterday (May 11, 2022) seized 104,000 litres of soyabean oil from different grocery shops in the district.
An annoyed Shovon Das was walking home with a five-litre bottle of soybean oil from Shaheb Bazar in Rajshahi city yesterday afternoon. He had paid Tk 985 for it even though the government set the price at Tk 760.
Police in a raid seized 92,616 litres of edible oil illegally stored at four warehouses and a truck at Baneshwar Bazar of Rajshahi's Puthia upazila today (May 10, 2022).
The Bangladesh Vegetable Oil Refiners & Vanaspati Manufacturers Association today said it will take action against the dealers if their involvement is found in creating an edible oil crisis.
The Trading Corporation of Bangladesh (TCB) will resume selling soybean oil at Tk 110 a litre to one crore TCB cardholder families from next month, Senior Commerce Secretary Tapan Kanti Ghosh said yesterday.
