It was mistake to believe traders: Commerce Minister

In the context of market instability in the soybean and palm oil markets, Commerce Minister Tipu Munshi said it was improper for him to believe the traders because the businesses did not keep their words.

Tipu Munshi said this at a press conference held at the conference room of the Commerce Ministry on Monday afternoon.

"The fact must be faced no matter how tough it may be," the Commerce Minister remarked of the spike in oil prices.

"In light of the international market condition, examine the growth in oil costs in the country. Many merchants and distributors, on the other hand, are taking advantage of the situation. They've already been identified. Action is being taken and will be taken when necessary. RAB's help will be sought if necessary."

"To protect the poor from the high price of oil, the government would supply one crore poor families with affordable edible oil and other products through the TCB's Family Card. These products will be delivered by TCB in June," he added.