Oil, pulses, sugar prices raise in int’l market: Minister

Commerce Minister Tipu Munshi has said prices of edible oil, pulses and sugar have increased in the international market.

“Prices of edible oil, pulses and sugar have gone up in the international market. Edible oil worth Tk600 per ton has risen to $1,300 in the international market. Similarly, the price of pulses has also gone up. Our annual demand for edible oil is 35 to 40 lakh ton, 90 per cent of which has to be imported from abroad,” said the minister while speaking at a press conference at Rangpur Circuit House auditorium on Friday.

He further said 10 percent of the oil comes from mustard produced in the country.

Tipu Munshi warned that stern actions will be taken against those traders who will be involved in hiking price of essentials like edible oil, pulses and sugar.

“Many dishonest traders raise prices whenever they get a chance. Therefore, from now on, strict action will be taken if edible oil, pulses and sugar are sold at more than the price fixed by the Tariff Commission,” he said.

Necessary instructions have been given to the deputy commissioners to check the price hike of essential commodities, said Tipu Munshi.

The minister said the government is trying to keep the prices of essentials at a tolerable level.