No immediate plan to raise edible oil prices, says Commerce Minister

Commerce Minister Khandakar Abdul Muktadir has said that there is currently no plan to increase edible oil prices in the country.

Speaking to reporters at the Secretariat on Sunday after a review meeting on edible oil supply, he stressed that keeping essential commodity prices stable remains the government’s top priority. 

He noted that people are already facing pressure due to global uncertainties, including conflicts and any price hike would further burden consumers.

The minister described edible oil as a highly sensitive commodity, pointing out that even a slight increase in price can trigger public dissatisfaction. 

To prevent this, the government regularly monitors supply and import conditions through ongoing reviews.

Representatives from edible oil supplying companies attended the meeting at the Commerce Ministry. 

Earlier, on April 9, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association proposed a price hike and submitted its recommendation to the ministry.

After evaluating the proposal, both Commerce Ministry and Bangladesh Trade and Tariff Commission decided not to approve any increase at this time.

Officials also held two rounds of discussions on Sunday to explore ways to support suppliers. 

These included possible facilities to help them adjust profit margins without raising consumer prices. However, no final decision has yet been reached on these measures.

SH