Commerce Minister Khandakar Abdul Muktadir -File photo

DHAKA, Sept 3, 2026 (BSS) — Commerce Minister Khandakar Abdul Muktadir today said the price of soybean oil will be adjusted based on international market prices as well as domestic production and processing costs.

“The prices of edible oil are determined in line with the international market, taking into account domestic production and processing costs,” he said while talking to journalists at Mohakhali in the capital, said a press release.

The minister said soybean oil is entirely import-dependent and fluctuations in international commodity prices have a direct impact on the local market.

He said the Ministry of Commerce follows a specific formula for determining the price of imported edible oil. 

The final price is calculated by adding freight, unloading costs, insurance, refinery processing costs and wastage during transportation to the Free on Board (FOB) price, said a press release.

“Ordinary people and media professionals can also easily verify the calculation by looking at international price indices,” he said.

On the risk of losses for traders, Muktadir said the edible oil business in Bangladesh is largely dependent on the private sector. 
    
If importers incur losses for a prolonged period, it could lead to supply disruptions in the market, he added.

“So, a reasonable balance has to be maintained to ensure uninterrupted supply and prevent entrepreneurs from withdrawing from the business due to losses,” he said.

Describing government measures to keep the market stable, the minister said around 7.8 million families are being provided essential commodities at subsidised prices every month through the Trading Corporation of Bangladesh (TCB).

Besides, products are sold through open trucks during the two Eid festivals, while regular Open Market Sale (OMS) activities are also continuing under the Ministry of Food, he said.

He added that the government is continuously monitoring the opening of letters of credit (LCs) by traders and the import supply pipeline to prevent any artificial shortage in the market.

Regarding the sugar market, the commerce minister said Meghna Group, one of the country's leading refiners, has sufficient raw sugar in stock.

“Production was temporarily disrupted due to utility-related problems, but the supply situation will return to normal soon,” he said.

On the pay scale of government employees, Muktadir said their salaries had not been adjusted for the past 11 years, making the move reasonable in view of the prevailing inflation.

He said the new pay scale would not be implemented at once but gradually by July next year, adding that there was no reason to fear market distortions or a sudden rise in prices.

Regarding fragrant rice exports, the minister said only around 2,500 tonnes of rice had so far been exported against the approved quantity.

“Approvals for those who failed to export rice within the stipulated time will be cancelled or substantially reduced,” he added.