Soybean oil prices in Bangladesh retreated slightly on the back of lower international prices. Domestic prices decreased by 3% YoY to USD 1.96/kg as of June 13th. This should bring slight relief to consumers, however, prices remain more than 40% higher than a year ago. International prices decreased as Indonesia lifted its palm oil export ban last month, comparatively weak demand is coming from China amid Covid-19 lockdowns, and conditions are mostly favorable for the US soybean crop.
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