Officials have stated that the government plans to bar the selling of unpacked soybean oil in an attempt to make sure consumers are not getting other edible oils in the name of soybean oil.
In a response to the industries ministry’s request for an opinion, the Ministry of Commerce now agreed that a plan can be put into practice to save consumers from being cheated.
Based on the data from the Central Bank, the nation’s annual edible oil import is nearly 2.2 million tonnes of which 70 per cent is palm oil and 30 per cent is soybean oil.
But an analysis from the Bangladesh Tariff Commission discovered that soybean oil is sold in the market more than its total imports.
As of right now, officials stated that palm oil is sold in the unpacked format while soybean oil is sold both in packed and unpacked format. They have predicted that the traders will cheat consumers by selling palm oil in the name of soybean oil.
Soybean oil can be easily differentiated from palm oil as it will be sold in plastic packs and PET bottles only. The soybean oil will be sold under a brand name and have a compulsory certificate from the Bangladesh Standards and Testing Institution (BSTI).
PET stands for Polyethylene Terephthalate and is generally utilised for the manufacturing of plastic bottles for liquid or beverage consumption.