For the last two months, 35-year old security guard Saiful Islam could not send any money to his parents living in a village in Rangpur, one of the poverty-stricken divisions in Bangladesh.

Edible oil recently underwent price manipulation at each of the four stages of the value chain within the country involving refiners, dealers or supply order traders, wholesale traders and retailers, according to the Directorate of National Consumers’ Right Protection.

Traders stopped selling beef and mutton in Sylhet city this morning for an indefinite period. They are demanding a hike in meat prices set by Sylhet City Corporation.

Commerce Minister Tipu Munshi took heavy flak in the Jatiya Sangsad yesterday for his ministry’s failure to arrest the price hike of daily essentials, which has worsened the plight of limited-income people.

The rising prices of essentials ahead of Ramadan has dealt a fresh blow to the people with limited income.

The prices of loose soybean and palm oil have gone up by Tk 150-200 per maund at Chattogram’s Khatunganj wholesale market overnight for a supply crisis although the importers maintain there is no shortage at their end.

Fisheries and Livestock Minister, SM Rezaul Karim, today said that Bangladesh now produces 80 percent of the world’s hilsa.

Taking advantage of the government’s laxity, dishonest traders are pocketing huge amounts of money by creating an artificial supply crisis, said speakers yesterday.

Food Minister Sadhan Chandra Majumder told the parliament today that there is no apprehension about food shortage in the country in the current fiscal year.

The Jatiya Party and BNP MPs yesterday engaged in a debate over the rising prices of essentials and deterioration of law and order with their counterparts in the ruling party during the 17th session at parliament.

Two ministers yesterday said the government has been doing its best to control the high prices of essentials, which is the result of global market instability.

Seaweeds and Green Mussels, which are increasingly recognised as important marine resources around the world, have the potential to contribute significantly to Bangladesh's economy if properly planned and commercialised.

The government yesterday reduced the price of bottled soybean edible oil at the retail level by Tk 8 per litre to Tk 160.

Amid high prices of daily essentials, many in need returned empty-handed from the TCB sales points outside the capital yesterday as they did not have “family cards”.

The prices of edible oil have gone up at the wholesale level yesterday despite the 30 percent tax exemption at the import and production stages.

Nasima Begum, in the advanced stages of pregnancy and carrying her two-year-old, was waiting for over two hours at the designated point in the capital’s Kazipara Bus Stand for a TCB truck to arrive with daily essentials.

The government and World Bank have signed a $120 million financing agreement to help improve the irrigated agricultural and fisheries production and increase the incomes of 170,000 poor people vulnerable to climate change.

Even though the government on Monday partially removing VAT on edible oils, consumers have yet to get any relief as traders have not reduced prices as of yesterday. 

The majority of the ready-to-consume snacks and beverages like fizzy drinks, chips and fried chicken contain substances harmful for health and are responsible for non-communicable diseases, found local researchers.

Amid public outcry over the spiralling prices of edible oils, the government yesterday partially removed VAT on refined palm and soybean oil, but it is not likely to greatly ease the consumers’ burden.