Soybean oil price may come down: commerce minister

Publish: 5:49 PM, September 10, 2022 | Update: 5:49:PM, September 10, 2022

Commerce Minister Tipu Munshi has expressed optimism that the price of soybean oil may come down in the next one to two months.

“Due to the high value of the US dollar, the price of daily commodities is not decreasing in the country. Commodity prices are expected to fall after the dollar price settles in the coming months,” he said.

The commerce minister, also a heroic freedom fighter, said this while talking to local reporters at his residence on the Central Road in Rangpur city today.

He said the import price of Soybean oil in the global market has decreased. As a result, edible oil prices have fallen. Also the problem is that the value of the US dollar has increased.

“Hopefully US dollar price will settle down soon. Soybean oil prices will be settled again when the US dollar price settles. We also expect prices of other commodities and products to come down within the next one to two months,” Tipu Munshi said.

Regarding the very recent visit of Prime Minister Sheikh Hasina to India, Tipu Munshi said that the visit has become a successful one.

“Fruitful discussions with India on investments and bilateral trade were fruitful. The Indian Prime Minister sought Bangladesh’s support on their way forward,” he said, adding that West Bengal has responded positively to the Teesta River Water-sharing Treaty.

The Commerce Minister also said that the Prime Ministers of the two neighbouring friendly countries have shown enthusiasm on various issues and positive discussions have taken place.

Local leaders of Awami League and its associate organizations were present.