Commerce Minister Khandaker Abdul Muktadir has said that the prices of edible oil, including soybean oil, will not be increased in the country.
Speaking to journalists after a meeting with representatives of edible oil supply companies on Sunday, he said: “People in the country are worried due to the global situation, including conflicts and other issues. Our priority is to ensure that the prices of any products do not increase. We will take steps with that goal in mind.”
The minister said the meeting discussed providing some additional benefits to adjust profit margins, but no final decision has been made regarding the type of incentives.
“We regularly hold meetings on edible oil. It is a sensitive product. When prices rise, consumers become dissatisfied. That is why we regularly review the supply situation and imports,” he said, adding that nothing has been finalized regarding a price hike in this meeting.
It is worth mentioning that on Thursday, mill owners’ organization, Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association, had proposed an increase in edible oil prices. Earlier, they had sent a letter to the Ministry of Commerce in this regard. However, after review by the ministry and the Bangladesh Trade and Tariff Commission (BTTC), the government decided not to approve any price hike.
