Edible oil supply returning to normalcy: Commerce minister

Commerce Minister Khandaker Abdul Muktadir today (3 May) said the supply of edible oil in the market is gradually returning to normalcy.

The minister came up with the development after conducting a surprise visit to different city markets to observe the edible oil supply and its prices this afternoon.

During the visit, he toured several shops at the chicken market area of Karwan Bazar and spoke to dealers, wholesalers and retailers to assess the overall supply chain and market conditions.

Retailers informed him that the supply of edible oil has increased compared to previous weeks. Dealers also confirmed an improvement in the supply. 

They noted that demand for 5-litre bottled oil remains high, adding that consumers are now showing greater preference for bottled oil over loose oil, said a commerce ministry press release.

On the spot, it was observed that 5-litre bottled soybean oil was being sold at Tk970-975, while previously supplied 1-litre and 2-litre bottles were selling at Tk195 and Tk390 respectively.

The commerce minister also spoke to consumers. They confirmed the availability of edible oil in the market and that the supply situation has improved compared to the early days.

After the inspection, Khandaker Abdul Muktadir said the government is working closely to maintain a stable supply of edible oil. "The supply situation has improved significantly. Several meetings were held with dealers and companies. Due to the global market situation, adjustments were necessary. However, if international prices decline, domestic prices will be adjusted accordingly," he added.

He further said that such surprise inspections will continue to ensure transparency and accountability in market management.

Commerce Ministry Secretary (routine charge) Md Abdur Rahim Khan, Director General of the Directorate of National Consumer Rights Protection Faruk Ahmed, and other concerned officials were present during the visit.