The government has decided not to increase edible oil prices for the time being, Commerce Minister Khandker Abdul Muktadir said on Sunday following a review meeting on the country’s supply situation.
Speaking to reporters after the meeting, the minister said the government’s top priority is to keep essential commodity prices stable amid growing public concerns driven by global uncertainties, including the ongoing conflict in the Middle East.
“People are already anxious due to various global factors. Our first priority is to ensure that no commodity prices rise during this period. We will take necessary steps to achieve that,” he said.
He described edible oil as a sensitive commodity, noting that any price hike directly affects consumers. “We regularly review the supply and import situation of edible oil. However, there is nothing at this point to suggest a price increase,” he added.
The meeting, held at the Commerce Ministry, was attended by representatives of major edible oil suppliers.
Earlier, on April 9, the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association proposed a price hike in a letter to the ministry.
The proposal was reviewed by the Bangladesh Trade and Tariff Commission along with the ministry, which ultimately decided against raising prices.
During two rounds of discussions held on Sunday, officials also explored the possibility of offering additional incentives to suppliers to help them adjust profit margins without increasing retail prices.
However, no final decision has yet been made on the nature of these benefits.