C T Online Desk: Indonesia, the top exporter of palm oil, has stopped exporting palm oil, further heating up the edible oil market. In the last one week, the price of palm oil has gone up by Tk 1,000 and soybean by Tk600. Traders in Khatunganj say that palm oil comes to our country from Indonesia and Malaysia. Of this, 70 percent comes from Indonesia alone and the remaining 30 percent comes from Malaysia.
Indonesia has announced a ban on palm oil to keep its domestic market afloat. As a result, it can be said that a new thunder signal has appeared in the edible oil market of our country.
A search of the wholesale market in Khatunganj revealed that palm oil was sold at Tk 5,200 per maund (37.32 kg) a week ago. At present it is being sold at Tk 6,200 with an increase of Tk 1,000. On the other hand, soybean oil was sold at Tk 8,400 per maund at the same time. At present it is being sold at Tk 7,000 with an increase of Tk 600.
