June 10, 2026
New duty follows removal of export control in national budget
The government says the decision to reduce palm oil prices comes as adjustment to global market trends
The move comes in response to a drop in prices in the international market
The government is also planning to increase imports of wheat, soyabean oil, and cotton from the US
Sellers are pushing the new cooking oil price before fresh stock arrives
Importers have been paying a uniform 5 percent levy until now
Low supply of summer vegetables keeps prices elevated, say sellers
The commerce advisor says that the price of palm oil – which accounts for 60 percent of the edible oil market – is lower than the rate set by the government
