Soybean oil is harmful to health: Commerce minister

Commerce minister Tipu Munshi
File Photo

Commerce minister Tipu Munshi on Wednesday said the government is planning to increase the production of rice bran and mustard as an alternative to soybean in a bid to tackle the edible oil crisis.

He said 50,000 to 60,000 tonnes of rice bran are produced in the country now. The production could be increased to 700,000 tonnes by which 25 per cent of total demand could be met.

"Besides, rice bran is better than soybean. The soybean oil is harmful to health, the minister said this while briefing the newsmen at the secretariat in Dhaka on Wednesday.

Tipu Munshi said 64 per cent of the total wheat imports in the country come from India.

Although India imposed a ban on wheat export, it will not be applicable to Bangladesh, the minister said adding there is no need to worry as the country has enough wheat in stock at this moment.

He claimed the oil price is being hiked in the country in line with the international market.

The price of edible oil started skyrocketing after the war between Russia and Ukraine had broken out.

Argentina’s announcement to limit export and Indonesia’s announcement to stop export of palm oil are also responsible behind the record price hike.