Business

Edible oil prices will not increase till February 6


Published : 19 Jan 2022 09:13 PM

Commerce Minister Tipu Munshi said that the current price of edible oil will not increase till February 6. 

He made the statement on Wednesday morning after the meeting with edible oil traders in the conference room of the ministry at the Secretariat.

The Commerce Minister said, “We will discuss the matter on the 6th, that is, after 16 days. If we need to increase the price, we will increase and if we need to reduce the price, we will reduce. We will do what is convenient considering everything.The traders themselves raised some prices without informing us. They will also consider that.”

Mentioning that India's custom structure is lower than ours,TipuMunshi said, “Where we have to pay 18 to 20 percent, they have to pay 5 percent. We have to consider all these. For this, I have requested the traders to give some time.”

The Commerce Minister said that the price of edible oil will not increasing at the moment. 

At present, bottled soybean oil is being sold at Tk 160 per liter and open soybean oil at Tk 136 per liter.The traders had decided to increase the price by Tk 8 per liter.

The minister further said, “No particular decision was taken in the meeting. We have told them to try to reduce the price of oil at least a little bit for now. Various information will be collected in the next 15 days. Eid-ul-Fitr is also ahead. That is why I have requested the traders to open their debentures normally.”