- Government confirms no price hikes for essential commodities during Ramadan due to sufficient stock.
- Authorities implement measures to stabilize the market and ensure smooth supply.
- Bumper production of potatoes, onions, and winter vegetables supports price stability.
- Industry leaders guarantee adequate stocks of edible oil and sugar.
- Consumers express confidence in market stability due to government monitoring.
Dhaka, February 7, 2025 – With Ramadan around the corner, the Bangladeshi government promises stable prices for essential goods. Officials, market analysts, and industry leaders confirm that supplies are enough to avoid any shortages.
To control the market, the government has taken several steps. These measures aim to protect consumers from sudden price hikes.
Government Strategies to Control Market Prices
To ensure stability, authorities have taken multiple steps. The government has waived customs duties on essential imports, including edible oil, sugar, onions, potatoes, and dates. This decision aims to ease the pressure on domestic supply and prevent price surges. Additionally, the relaxation of foreign exchange restrictions has facilitated the opening of Letters of Credit (LCs), allowing traders to import goods smoothly.
The Finance and Commerce Advisers have conducted a series of meetings with market stakeholders. Their goal is to ensure an uninterrupted supply of essential goods in local markets. Government agencies have strengthened monitoring efforts to prevent hoarding and artificial price hikes.
Bumper Agricultural Production Supports Price Stability
Agricultural production has significantly contributed to price stability. The Department of Agricultural Extension (DAE) reported a bumper harvest of winter crops, including potatoes, onions, and vegetables. This surplus ensures that supply remains steady, preventing unexpected price hikes.
According to data from the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), last fiscal year (FY24) saw significant production levels:
- Soybean: 1.72 lakh metric tons
- Sunflower: 27,000 metric tons
- Mustard: 16.7 lakh metric tons
This strong agricultural output provides relief to consumers, ensuring affordability and accessibility of these staples.
Industry Leaders Confirm Sufficient Stocks of Essentials
Private sector representatives have echoed government assurances. Taslim Shahriar, General Manager of Meghna Group, stated that there is ample stock of edible oil and sugar to meet increased Ramadan demand.
“The annual demand for edible oil is 20 lakh tons, with an additional 3 lakh tons required during Ramadan. We have sufficient stock to meet this demand, eliminating any risk of shortages,” he said.
Bangladesh Cold Storage Association President Mostafa Azad Chowdhury Babu reported that potato production exceeded expectations. The target for the fiscal year was 1.13 crore tons, but actual production reached 1.30 crore tons.
“Since production was higher than demand, potatoes are selling at Tk 10 per kg at the farm level and Tk 20–25 per kg at retail,” he stated.
International and Domestic Market Trends
The Bangladesh Trade and Tariff Commission (BTTC) reported a decline in global edible oil prices. As of February 5, 2025:
- Non-refined soybean oil: $922.31 per ton (down from $989 per ton a month ago)
- Refined palm oil: $1,072.50 per ton (down from $1,167.50 per ton a month ago)
Domestic prices reflect this trend. In Bangladesh:
- Non-refined soybean oil: Tk 116.75 per kg
- Refined palm oil: Tk 126.18 per kg
With these trends, experts expect market stability to continue.
Consumer Confidence and Market Oversight
Consumers have expressed satisfaction with current market conditions. Many appreciate the strong government monitoring, which prevents artificial price hikes and ensures a smooth supply chain.
The stockpile of major food grains also remains sufficient. According to the Ministry of Food (as of February 5, 2025):
- Rice: 13.17 lakh metric tons
- Wheat: 3.42 lakh metric tons
These reserves further assure consumers of a stable market during Ramadan.
Steady Prices During Ramadan
Bangladesh is ready to keep essential goods affordable throughout Ramadan. The government’s policies, strong farming output, and industry support work together to ensure a smooth supply.
People can expect stable prices, making it easier to manage household expenses during the holy month. This brings financial relief to many families.