Bangladesh’s edible oil market, which relies 90% on imports, faces a severe crisis due to a shortage of tankers from Malaysia and Indonesia, causing transport costs to rise by $10-15 per ton. This issue, exacerbated by political instability, a banking crisis, and increasing demand in neighboring countries, has led to delays and increased costs. Palm oil prices have surged from $874 per ton in June to $1,010 in early September, with wholesale prices for palm oil rising by about Tk 250 per maund. Due to high demand and limited tankers, the price and availability of edible oil are expected to remain volatile. The transportation crisis, compounded by the country’s banking and political issues, is causing a trust deficit among shipping companies, affecting Bangladesh’s ability to import oil efficiently. Major importers are struggling with increased costs and delays, impacting overall market stability.
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