Ahead of the holy month of Ramadan, bottled soybean oil traders have proposed increasing prices by Tk 14 per liter, citing rising edible oil prices and escalating freight costs in the international market.
Simultaneously, date importers have demanded a reduction in existing import duties and taxes to keep the essential item affordable during the fasting month.
The proposals were placed during a high-level meeting on Monday chaired by Commerce Minister Khandaker Abdul Muktadir to review Ramadan-centric commodity imports, supply chain issues, and market trends.
However, the Ministry of Commerce has not yet taken any decision regarding the increase in soybean oil prices.
Regarding the duty waiver on dates, the ministry said the proposal will be evaluated in consultation with the National Revenue Board (NBR).
Earlier on September 2, bottled soybean oil prices were raised by Tk 5 to Tk 204 per liter following recommendations by the Bangladesh Trade and Tariff Commission.
Traders are now pushing for a further Tk 14 per liter increase ahead of the peak demand period.
During the meeting, date importers pointed out that the current total tax incident on date imports stands at around 55 percent.
They said high customs valuation, rising freight charges due to alternative shipping routes, and ongoing complexities in opening Letters of Credit (LCs) are collectively pushing up import costs.
Without intervention, date prices could go beyond the reach of ordinary consumers during Ramadan.
Importers urged the government to implement a transparent and rational duty structure based on actual product quality and market value, rather than applying a uniform assessment value across all varieties of dates.
Commerce Minister Khandaker Abdul Muktadir stressed the importance of a rational tax framework, noting that Bangladesh imports various grades of dates from nearly a dozen countries—including Egypt, Saudi Arabia, Iraq, and Algeria—making a flat customs assessment impractical.
