Govt fixes edible oil prices
Tuesday, 26 February 2008

Staff Correspondent

The caretaker government fixed the price of edible oil Monday after a discussion with dealers.

Commerce adviser Hossain Zillur Rahman and edible oil dealers' representative Fazlur Rahman briefed reporters following a meeting at the commerce ministry.

A decision was made at the meeting to fix off-factory prices of a litre of soybean at Tk 103, and palm oil at Tk 96, after importation and purification, they said.

Wholesalers will sell soybean to retailers slightly higher at Tk 103.50 and palm oil at Tk 96.50 a litre.

The maximum prices for soybean and palm oil were set at Tk 106.50 and Tk 98.50 a litre respectively for consumers. The agreement will remain valid until March 9, when the prices will be reviewed following another meeting between the two parties.

"A high-profile committee will control edible oil prices through close market monitoring and fixing the market prices," Zillur said. "It will also review rice, wheat and lentil prices after comparing domestic prices with the international market," the adviser added. The committee will be headed by the commerce adviser.

The commerce secretary, the BDR director general, a NBR representative, a Bangladesh Bank representative and edible oil importers and exporters representatives will be members.

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