Will enhance market surveillance from today: State minister for commerce

State minister for commerce Ahsanul Islam Titu has said that a comprehensive list of essential commodities, along with their prices, will be formulated with the approval of the cabinet in preparation for next year’s Ramadan.

He said this at a memorandum of understanding (MOU) signing programme between the Trading Corporation of Bangladesh (TCB) and Russia's Ministry of Agriculture regarding the supply of agricultural products on Sunday.

“I saw a list of 18 essential items in the United Arab Emirates (UAE), prices of which will not be increased during Ramadan. In the future, we will create a comprehensive list of essential items like that, considering the approval of the cabinet,” he stated.

He further said that there is currently no shortage of essential goods in the market.

“There was volatility in the rice market in the last one and a half months. It is at a stable level now. There is no complaint about the price of rice. We have also fixed the price of oil,” he said.

“We will enhance market surveillance from today so that no one sells soybean oil at a higher rate. We will take strict action in this regard," he added.

He also said the recent price hike of commodities such as lemon, mustard oil, and onions is not common across the country. The government is closely monitoring markets to address any irregularities and ensure a stable supply chain, he said.

Regarding negotiations with Russia, Titu mentioned, “Although we are self-sufficient in rice production, we have not been able to achieve complete self-sufficiency in wheat, potatoes, and pulses. We are looking to import these items from various sources, and we have signed agreements with Russia for wheat supply.