Nestlé Bangladesh plants trees in 64 districts

The National Board of Revenue (NBR) has reduced the source tax on imported fresh fruits, including oranges, malta, grapes, apples, and pears, from 10 percent to 5 percent to stabilize domestic prices during Ramadan.

Rice prices in Bangladesh have been rising for 1.5 years, reaching record highs despite private import approvals. Of the 16.75 lakh tonnes permitted for import, only 2.63 lakh tonnes (17%) have arrived by March due to high dollar exchange rates, a strong Aman harvest, and weak demand.

The Bangladesh government is increasing its food subsidy allocation by nearly 12%, raising the total to Tk 8,100 crore, aiming to enhance food distribution programs and support low-income groups. This decision follows production losses due to flash floods and persistent inflation, with food inflation reaching over 14% last year before easing.

The government is considering increasing Trading Corporation of Bangladesh (TCB) dealers’ commissions by Tk 0.50 per kg/litre due to rising transport costs. TCB, which operates sales drives for 10 million low-income consumers, proposed this adjustment to the commerce ministry after a board meeting in January.

The Chattogram district administration has set the retail price of loose soybean oil at Tk 160 per litre, effective until April 10. Importers will sell at Tk 153, dealers at Tk 155, and retailers at Tk 160 per litre. The decision was announced at a meeting led by Chattogram DC Farida Khanam, with Mayor Shahadat Hossain and key business stakeholders present.

The National Board of Revenue (NBR) has removed VAT on various edible oils, including mustard, rapeseed, canola, and rice bran oil, along with other essential commodities, to ease market pressure. VAT exemptions will apply at the production stage for rapeseed, colza seed, and canola oil until June 30, 2025, while mustard oil gets an indefinite exemption.