Bangladesh Commerce Minister Khandakar Abdul Muktadir on Monday assured the public that edible oil prices in the market will not increase, emphasizing that there is adequate supply and no shortage.
Speaking to reporters after a meeting with importers and refinery owners at the conference room of the Ministry of Commerce at the Secretariat, the minister warned that panic buying could temporarily create supply pressure in some areas, unnecessarily complicating the situation.
“The meeting was held in response to recent media reports suggesting a shortage of edible oil or sales at prices two taka higher per litre,” Muktadir said. “According to information from importers and refinery owners, stocks are sufficient across the market.”
He added that temporary shortages in some stores may occur in areas where consumers buy excessively out of panic.
Sharing his personal observation, the minister said, “When I visited a market in the capital, I found large shops well-stocked with edible oil at fixed prices. However, some traders attempted to sell limited stock at two to three taka higher per litre.”
Addressing consumers directly, Muktadir urged calm and discouraged panic buying, noting that such behaviour could allow unscrupulous traders to exploit the situation.
Responding to questions, he clarified that unlike fuel oil, there is no crisis in edible oil. “There is no crisis in edible oil, fuel, or gas. I urge everyone not to create unnecessary confusion by using the term ‘crisis’ for these products,” he said.
The minister also said that market monitoring activities will be strengthened to ensure price stability.
He urged the public to refrain from spreading rumours or panic, and reiterated that edible oil prices will not rise “even a drop,” assuring consumers they can shop with peace of mind.
Muktadir further stated that the government will take action against any market irregularities. The National Consumer Rights Protection Department under the Ministry of Commerce is monitoring the situation, while district administrations will continue regular market campaigns to ensure fair practices.
Bd-pratidin English/ Jisan
