Govt fixes edible oil price to tame volatility Star Business Report Star Business Report
The government yesterday fixed edible oil prices to tame the volatility in the domestic market and curb price manipulation by a section of unscrupulous traders.
The new price came into effect immediately. The price of loose soybean oil was fixed at Tk 115 per litre at the retail level, said Commerce Minister Tipu Munshi after a meeting with major refiners, importers, traders and wholesalers at the secretariat in Dhaka.
The move came as loose soybean oil was selling at Tk 116-Tk 120 per litre at the retail level in the capital, up 3.5 per cent from Tk 112-Tk 116 a month ago.
The government of Bangladesh plans to import or buy locally key essential items to face any crisis or price spiral in future, particularly during the month of Ramadan. A buffer stock of such…
Inflation drops to 8.5yr low Star Business Report Star Business Report
Inflation dropped to 5.02 per cent in January, the lowest in eight and a half years, on the back of the arrival of winter vegetables that contributed to the consumer price decline, official figures showed yesterday.
This is the third straight month of overall consumer price decline.
In December, inflation, a measure of changes in the prices of a basket of commodities and services, was 5.29 per cent, according to the Bangladesh Bureau of Statistics (BBS).
A decline in the price of non-food items also contributed to the fall in the overall inflation, easing pressure on the wallets of consumers. A large number of the population, especially the poor and low-income groups, still suffer for the high price of coarse rice.
Inflation dropped to 5.02% last month: BBS
Star file photo Star Business Report Star Business Report
Inflation dropped to 5.02 percent in January thanks to arrival of winter vegetables that contributed to the decline in prices last month, data by Bangladesh Bureau of Statistics (BBS) showed.
In December, inflation, a measure of changes in prices of a basket of final commodities and services, was 5.29 percent.
A decline in prices of non-food items also contributed to dampening of overall inflation, easing pressure on the wallets of consumers, although a large part of the population especially poor and low-income groups still have to bear the high prices of rice.
Stockpiling of Rice, Potato, Onion: Govt measures failed miserably
Finds BARC study on markets last year Staff Correspondent Staff Correspondent
Many traders indiscriminately stockpiled rice, potato, and onion to drive up prices even when there was a supply surplus.
In the meantime, government interventions wholly failed to manage the crisis.
These findings of three study teams from Bangladesh Agricultural Research Council were revealed yesterday at a press conference at the capital s Barc office.
The agriculture ministry initiated the market research on October 20 last year following public outcry over the prices. The ministry formed the three teams to investigate why prices of the three essential food items soared in the market.