Soybean oil price may fall once dollar price stabilizes: Tipu

Trade Minister Tipu Munshi said he was optimistic that the price of soybean oil could fall over the next two months.

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

The Minister of Commerce said this during a conversation with local journalists at his residence on Central Road in the city of Rangpur on Saturday.

He said the import price of soybean oil in the world market has been falling.

As a result, edible oil prices fell. The problem is also that the value of the US dollar has increased.

“Hopefully the price of the US dollar will stabilize soon. Soybean oil prices will stabilize again when the US dollar price stabilizes. We also expect the prices of other raw materials and products to decline within one to two months,” said Tipu Munshi.

Regarding Prime Minister Sheikh Hasina’s most recent visit to India, Tipu Munshi said the visit has become a success.

“Discussions with India on investment and bilateral trade have been fruitful. The Prime Minister of India has requested support from Bangladesh to move forward,” he said, adding that West Bengal has responded positively to the Teesta River Water Sharing Treaty.

The trade minister also said that the prime ministers of the two neighboring countries showed enthusiasm on various issues and positive discussions took place.

Local leaders of the Awami League and its associated organizations were present.

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