POBNEWS24, Dhaka June 26, 2022 : Commerce Secretary Tapan Kanti Ghosh said that the price of edible oil in the international market will come down in the next one or two days. He was responding to a question at a press conference on the sidelines of the Twelfth Ministerial Conference of the World Trade Organization (WTO) at the Commerce Ministry’s conference room at the Secretariat on Sunday (June 26).
The Commerce Secretary said there could be good news for oil prices in the next couple of days. Hopefully, oil prices will come down.
Now that calculation is being done. If the Tariff Commission meets with the oil refinery industry and informs us, then we will be able to tell how much money will be reduced. However, it can be said that the price of oil will come down.
Tapan Kanti Ghosh said soybean prices have come down in the international market. This oil comes to us from Paraguay, Brazil and Argentina. It takes at least 45 to 60 days for oil to arrive from there. There is a time gap here, so even if you want, the price in the country’s market cannot be reduced immediately. The gap at this time is to think. But the good news is that some oil is coming from Indonesia now, it also takes 15 to 20 days to come from there. It should be kept in mind that the price has gone down in the international market and the dollar has also gone up. The price will be determined by combining these two factors.
“Everyone will know even if the price of oil goes down, everyone will know even if it goes up,” he said. Officially the formula we use is the time of decrease, the time of increase. The thing that has happened is that retailers often raise prices before the government raises them. That’s why consumer rights, deputy commissioner works. They see where millions of sellers charge more.
