Govt signals steady price, supply of edible oil

Commerce Minister Khandakar Abdul Muktadir has said the government will take prompt and effective measures to ensure a stable supply of edible oil and prevent any market disruption, indicating that there is no immediate plan to increase prices.

The remarks came during a meeting with business leaders held at the conference room of the Ministry of Commerce on Sunday to review the country’s edible oil supply situation.

The minister said the government is closely monitoring global developments, particularly the impact of the Middle East situation on energy and supply chains.

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“We have listened to the concerns of business leaders. After discussions with all relevant stakeholders, we will soon reach a practical and acceptable decision to ensure the continuity of the supply chain,” he said.

Emphasising consumer protection, Muktadir urged traders to act responsibly, noting that fluctuations in the prices of essential commodities like edible oil can cause hardship for ordinary people.

“This is a sensitive time. Any instability in the market for essential goods would be difficult for consumers. Everyone must act responsibly,” he added.

At the same time, the minister acknowledged the importance of sustaining businesses in the sector. He noted that maintaining financial capacity among importers is crucial, as edible oil imports require substantial investment.

“If businesses suffer losses and exit the market, it could have negative consequences for the country,” he said.

He assured that the government would work to create a “comfortable” environment for businesses so they can operate smoothly while ensuring uninterrupted supply in the market. He expressed hope that a decision on the matter could be reached within the next couple of days.

Following the meeting, in response to questions from journalists, the minister said the government’s top priority is to prevent any price increase of essential commodities amid global uncertainties.

“People are already concerned due to global tensions and conflicts. Our primary goal is to ensure that prices do not rise,” he said.

He added that the government regularly holds meetings with business leaders on edible oil, given its sensitivity in the market. While supply conditions and import costs are being reviewed regularly, he noted that no decision has yet been made regarding a price increase.

Additional Secretary (export) of the Ministry of Commerce Md Abdur Rahim Khan along with senior officials and representatives from the business community were present at the meeting.