Edible oil prices won’t rise before Eid: State minister

State minister Ahasanul Islam Titu speaks to the media at Tangail press club on 24 March, 2024.File photo

State minister for commerce, Ahasanul Islam Titu, has assured consumers that the authorities have no plans to adjust the prices of edible oil before the upcoming Eid, despite the recent rise in the dollar's value.

He made this assurance during a conversation with journalists at the secretariat on Tuesday, following a meeting of the cabinet committee on government purchases.

"Edible oil is an import-dependent product. In the interest of consumers, its price will not be adjusted despite the hike in the dollar price. Producers and importers will not set new prices until the next Eid," he said.

The state minister further stated, "I would like to assure you that the Tk 7 hike in dollar prices will have no impact at the consumer level."

When asked if a price hike is imminent after the next Eid, he left the issue on future developments, saying that wars and financial woes could not be predicted in advance. The authorities would address any price increases in the global market accordingly.