Govt may refix edible oil prices tomorrow

The government will refix the prices of edible oil - both retail and wholesale ones - after further discussions with traders Thursday, said FBCCI president AK Azad Tuesday, reports UNB. "The prices of edible oil will be refixed after a meeting between traders and Bangladesh Tariff Commission chairman Mujibur Rahman tomorrow (Thursday)," Azad told reporters after a meeting at Commerce Ministry. However, a senior official of the commerce ministry, wishing anonymity, told the news agency correspondent that the Commerce Minister sought a proposal from the traders on edible and sugar prices. "The decision will be taken after assessing their proposal," he said adding that it is not sure it will be refixed on Thursday, but there is a possibility. Chaired by Commerce Minister GM Quader, the meeting was attended, among others, by Commerce Secretary Ghulam Hossain, Bangladesh Tariff Commission Chairman Mozibur Rahman, FBCCI president AK Azad and representatives of refiners, importers of edible oil and sugar. The new Commerce Minister sat with the traders following the price hike of edible oil and sugar in the market. The meeting started at 2:30pm and continued till 5pm, but the Commerce Minister did not talk to journalists over the outcome of the meeting. According to Trading Corporation of Bangladesh (TCB) data, unpacked soybean oil is now selling at Tk 124 to Tk 128 per litre in the retail market.