Commerce Secretary Tapan Kanti Ghosh said though edible oil prices are rising high in the international market, they will not see another hike for now in Bangladesh.
Despite having a stable supply of essential commodities, the price of rice, sugar and edible oils was soaring in the country over the last few days, he added.
The price hike in the international market fueled a price rise in Bangladesh too. But the country now faces no supply shortage of any essential commodity, the secretary said, briefing reporters after a meeting at the ministry on Wednesday.
Talking about edible oil, Tapan Kanti said there is no supply shortage of this product in the country. Though edible oil prices are going up in the international market, they would remain unchanged at Tk149 per litre in Bangladesh's retail markets like before, he added.
The commerce secretary said taking the price rise in the international market into consideration, the government slashed duties by 37% to 25% on rice imports to keep domestic market prices in check.
He also gave assurances that the commerce ministry would increase monitoring of markets so that prices of essential commodities do not rise any further in the country.
Senior FBCCI Vice President Mostafa Azad Chowdhury, Chairman of Bangladesh Competition Commission, Md Mofizul Islam, TCB Chairman Ariful Hasan, and other relevant stakeholders were present at the meeting.