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Commerce Minister Khandaker Abdul Muktadir, on Sunday, said that the price of edible oil will not increase for now.
He shared this after a meeting on Sunday about the country’s oil supply at the Secretariat in the city.
He said people are already worried because of the global situation and war. So, the government’s main goal is to keep the prices of essential goods stable. Steps will be taken to ensure this.
He also said edible oil is a sensitive product. If prices go up, people will suffer.
That is why the government regularly reviews supply and imports. No decision has been made to increase prices.
Representatives from major edible oil companies attended the meeting at the Commerce Ministry.
Earlier, on April 9, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association proposed a price increase in a letter to the ministry.
It proposed to raise soybean oil prices by Tk 9.0-12 a litre from existing Tk 185 (loose) and Tk 195 (bottled) a litre.
However, the Commerce Ministry and the Bangladesh Trade and Tariff Commission reviewed the proposal and decided not to raise prices for now.
In Sunday’s meetings, there was also a discussion about giving some benefits to suppliers so they can manage profits without increasing prices.
Meanwhile, most of the groceries in the city are now running out of bottled soybean oil as refiners have almost stopped supplying, said traders.
Loose soybean oil is being sold at Tk 205-215 a litre at different city markets. Bottled soybean oil was rare while many of the traders were selling it at Tk 200-210 a litre against the official rate of Tk 195.
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