NBR Removes VAT on Local Edible Oils to Stabilize Prices

Reckitt Benckiser (Bangladesh) announced a record 3,330% cash dividend (Tk 333 per share) for 2024, despite an 8% decline in annual profit, which stood at Tk 75.20 crore. This drop in profit was accompanied by a decrease in earnings per share, falling from Tk 173.65 in 2023 to Tk 159.17.

The National Board of Revenue (NBR) of Bangladesh has declined the International Monetary Fund's (IMF) proposal to increase tax collection by an additional Tk 570 billion for the upcoming fiscal year. In a recent meeting, NBR officials conveyed that the current economic conditions are not conducive to imposing such a substantial tax burden.

Rice prices in Bangladesh have been rising despite a global decline. The FAO All Rice Price Index dropped by 1.7% in March 2025, down nearly 25% over the past year, reaching a three-year low. However, in Bangladesh, rice prices increased from July-August 2024, peaking just before Eid-ul-Fitr.

Bangladesh has met 76% of its FY25 rice import target, bringing in 0.38 million tonnes out of the planned 0.50 million tonnes, with shipments from India, Pakistan, Myanmar, and Vietnam. The food ministry has now extended the import target to 0.90 million tonnes until December.

Benapole, Bangladesh’s busiest land port, recorded a 13.19% revenue growth despite a decline in imports. For FY25, the customs house targeted Tk6,705 crore in revenue, with Tk4,453.31 crore expected in the first eight months.

The price of Miniket rice has surged due to an 80% decline in its production over the past month, driven by a severe shortage of the required paddy. Over the last two weeks, prices have risen from Tk72-74 per kg to Tk84-86 per kg in retail markets.