Dhaka: The National Board of Revenue (NBR) has imposed a fresh 25 per cent regulatory duty on the export of crude and refined rice bran oil to increase domestic supply and keep the prices stable. The tax administration issued a notification in this regard today. This move is expected to discourage export of rice bran oil.
According to Bangladesh Sangbad Sangstha, earlier in December last, the Bangladesh Trade and Tariff Commission (BTTC) sent a letter to the NBR requesting the imposition of export duty on the cooking oil. The recommendation aimed at addressing concerns over domestic market stability and supply of rice bran oil.
The imposition of the duty reflects ongoing efforts to manage the domestic market and ensure adequate supply of essential goods. This regulatory step comes in response to fluctuations in the market dynamics of rice bran oil.