Edible oil prices won’t rise now: Tipu

43

Dhaka, Jan 19: Commerce Minister Tipu Munshi today said edible oil prices will not be increased now.

He mentioned that the ministry will assess whether there is any credible reason to hike prices and decide on the matter after 15 days.

“Traders themselves decided to raise the prices a bit. I asked them to give me some time. After the next 15 days, a decision in this regard will be taken considering the local and global market situation,” he said

The minister talked to the reporters after a meeting with edible oil traders at Bangladesh Secretariat in the city.

Tipu said, “We will collect more data from the field level in the next 15 days. We will look into all kinds of tariff structures on edible oil. Then we will sit with the traders again. The new price of edible oil will be announced after a new review there.”

The minister sought the cooperation of traders to ensure that the prices of edible oil remain stable in the market during the upcoming month of Holy Ramadan.