Edible oil market to stabilise in one week: Commerce Minister

Commerce Minister Tipu Munshi has said that edible oil prices will be coordinated and the market will be stabilised within one week.

The minister said this in responding to a question of a journalist after the Cabinet meeting held at the Secretariat on Thursday.

Tariff Commission will sit with oil traders within one week to justify prices, he said. 

Edible oil prices have declined in the international market, but the dollar price has increased as a result we are not getting any benefit. However, Tariff Commission will justify the matter, the minister said.