Impact of MidEast War: No price hike plan for edible oil

Commerce Minister Khandakar Abdul Muktadir on Sunday said the government has no immediate intention of increasing edible oil prices in the country.

“Amid global tensions and uncertainties, people are already feeling anxious.

Our primary focus is to keep the prices of essential commodities stable during this period, and we will act accordingly,” he told reporters at the Secretariat following a review meeting on the country’s edible oil supply.

He noted that edible oil is a highly sensitive item, and any price hike tends to trigger public dissatisfaction.

“That’s why we regularly monitor its supply, import situation, and market conditions,” he added.

Representatives from major edible oil supplying companies attended the meeting at the commerce ministry.

Earlier, on April 9, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association submitted a proposal seeking a price increase.

After examining the proposal, both the commerce ministry and the Bangladesh Trade and Tariff Commission decided against raising prices for now.

In separate meetings held on Sunday, officials also discussed offering certain facilities to suppliers so they can adjust profit margins without passing the burden onto consumers.

However, no final decision has been taken regarding these measures.