Don’t buy edible oil in panic: commerce minister

Commerce Minister Khandakar Abdul Muktadir today urged consumers not to panic-buy edible oil, assuring that the country’s stock position is sufficient to meet market demand.

He made the remarks at a press conference following a meeting with edible oil importers, millers, refiners, suppliers and senior officials from various ministries and government agencies at the commerce ministry in Dhaka.

At the emergency meeting, participants reviewed the stock, supply and import situation after reports in the media suggested that edible oil prices had risen due to scarcity in local markets.

The minister reaffirmed that supply is adequate and there is no justification for a price hike.

Officials from the Directorate of National Consumers’ Right Protection have been conducting drives and will continue monitoring the supply and price of edible oil to ensure consumers do not suffer.

The commerce minister added that after detailed discussions with importers and refiners, the information gathered confirms that there is an adequate supply of edible oil in the market.