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Soybean oil price likely to drop within 2 months

Commerce Minister Tipu Munshi has expressed hope that the price of soybean oil will be dropped within next two months.

He said, “The price of soybean oil has dropped in the global market, but the price of the dollar has increased in the country. The price of oil in the world market is adjusted with the price of the dollar. As sequel to it, we expect that the price of soybean oil will be reduced in another phase in the next two months.”

The minister told reporters at his residence on Central Road in Rangpur city on Saturday morning.

Terming Prime Minister Sheikh Hasina’s visit to India as successful, the Commerce Minister said that Indian businessmen are keen to invest in Bangladesh on large scale.

“They (businessmen) directly spoke to the Prime Minister and raised various demands for investment. The Prime Minister heard those demands. Indian businessmen are interested in investing in energy, transport and agro-processing activities in Bangladesh. Besides, Adani Group wants to invest Tk 4,500 crore in Bangladesh.”

Tipu Munshi said, “We had a fruitful discussion with the Prime Minister of India. They want to move forward on their journey along with Bangladesh. West Bengal has responded positively on Teesta River water treaty.”

The Commerce Minister said that initiatives have been taken to import food and rice from Ukraine-Russia. This will reduce the price of daily commodities in the country, he added.

Former president of Rangpur Chhatra League Mehdi Hasan Siddiqui Roni and Mahiganj Dokan Malik Somity general secretary Masud Parvez Titu were present at that time, among others.