Bread, biscuit price hike put on hold for now

The price increase for biscuits and bread has been suspended for now after bakery business representatives agreed to put the decision on hold at a meeting with Commerce Minister Khandaker Abdul Muktadir today.

The meeting, held at the commerce ministry, discussed the raw material prices for bakery items and the overall production costs, according to a press release from the ministry.

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After the discussion, the bakery representatives agreed to suspend the price increase for the time being.

The ministry has formed a committee led by the chairman of the Bangladesh Trade and Tariff Commission to assess production and marketing costs, raw material prices, taxes, duties and other issues.

The committee has been asked to submit its report within seven days. The authorities will review the findings before deciding what to do next.

The ministry said it would seek to keep the market for essential food products stable while taking the interests of consumers and businesses into account.

Commerce Secretary Md Ataur Rahman Khan and Trade and Tariff Commission Chairman Nasir Uddoula attended the meeting.