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Traders assure steady edible oil price for Ramadan PDF Print E-mail
Friday, 08 August 2008

Businessmen have assured the government that the price of edible oil will remain stable during the month of Ramadan, an adviser said Wednesday, bdnews24 reports..

Commerce adviser Hossain Zillur Rahman and president of the edible oil traders' association MA Rouf Chowdhury told reporters that they did not expect any crisis of edible oil in the market during Ramadan.

They said the country had a current stock of 250,000 tonnes, with another 50,000 tonnes now in the process of import.

The net demand of edible oil during Ramadan was expected to be about 125,000 tonnes; as a result, there would be no dearth in the supply side, they said.

In a meeting between the adviser and the traders, at the commerce ministry Wednesday, the businessmen were asked to submit a report to the commerce ministry on ways to determine a logical price order for edible oil during the crucial month, Hossain Zillur said.

They were also asked to explain how the price could be made stable in view of the price of edible oil in the international market, said the adviser.

Rouf said the association will take initiatives so that the differences do not remain too high between the mill gate, wholesale and retail prices. They would also get support in this regard from government monitoring, he said.

Commerce secretary Firoz Ahmed, additional secretary Golam Mustakim, representatives of BDR, business leaders, and senior officials were present in the meeting.

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