Price hike: Enquiry team inspects Meghna Edible Oils Refinery
The investigation team of the Bangladesh Competition Commission inspected Meghna Edible Oils Refinery Limited near Sonargaon of Narayanganj Tuesday (5 April) to enquire about the reason behind the price hike and instability in edible oil market.
The team collected information on the production, import, supply chain, current status quo and delivery order of crude and pump oil during the visit, reads a press release.
Earlier on 10 March, Bangladesh Competition Commission formed a three-member enquiry team to investigate the reason behind the price hike and instability in the edible oil market.
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The investigation team was formed under the Competition Act, 2012.
The commission has requested all to provide information regarding anti-competitive practices in the market, through the mail [email protected].
Edible oil prices continue to soar in the last two months as prices of imported edible oils increased in the international market.
Meanwhile, the government decided to waive value-added tax (VAT) on soybean oil till 30 June.
