No plan to raise edible oil prices immediately: Commerce minister

There is no immediate plan to increase edible oil prices in the country, said Commerce Minister Khandakar Abdul Muktadir today (12 April).

"People are already concerned due to the global situation, including conflicts and other uncertainties. Our first priority is to ensure that prices of essential commodities do not increase during this time. We will take steps keeping that goal in mind," he told reporters at Secretariat after a review meeting on the country's edible oil supply situation.

He said the government regularly holds meetings on edible oil as it is a sensitive commodity. "Any increase in its price causes dissatisfaction among consumers. So we regularly review the supply and import situation of edible oil," he said.

Representatives of edible oil supplying companies were present at the meeting held at the commerce ministry.

Earlier on 9 April,  the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association proposed a price hike.

The proposal was sent to the ministry a few days earlier.

After reviewing the proposal, the commerce ministry and the Bangladesh Trade and Tariff Commission decided not to hike the prices.

Meanwhile, in two rounds of meetings held on Sunday, discussions were also held on providing certain facilities to suppliers to adjust their profit margins without raising prices.

However, no final decision has yet been made on the nature of such facilities.