The government yesterday slashed the import duty on rice and is also working to import about 12 lakh tonnes of food grain including rice as it looks to rein in the price of the staple amid a cost of living crisis.

A parliamentary watchdog yesterday came down heavily on Industries Minister Nurul Majid Mahmud Humayun for the price spiral of sugar despite ample supply of the commodity.

The government yesterday hiked the price of soybean oil for the fourth time this year even though the price of the product in the international market held steady in the past month.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has demanded punitive measures against anyone found manipulating prices in the domestic egg market.

Azmat Ali is a daily wage earner in the northern district of Lalmonirhat. Just a week ago, he bought coarse rice for Tk 44-45 a kg. But yesterday he found the price of the staple rose to Tk 52.

The government is taking a host of measures to cool down the overheated prices of essentials in the wake of the record fuel price hike earlier this month, which is expected to escalate the already elevated official inflation figures.

People’s struggle to cope with the escalating cost of living continues as the price of rice increased yesterday for the second time in just four days.

People struggling to keep up with rising prices of essentials have to spend even more on food since the government hiked fuel prices a week ago. 

The recent hike in diesel price increased truck fares by 22-25 percent, leading to rice, vegetables and some essentials to become dearer in the capital.

Edible oil processors have proposed a hike of Tk 20 per litre in the price of soybean oil on the ground of the significant depreciation of the taka, which has raised their import cost.

The state-run Trading Corporation of Bangladesh yesterday started selling essential items across the country at subsidised rates to one crore low-income families that have TCB cards.

The bottled soybean oil price has been reduced by Tk 14 a litre at retail.

The wholesale and retail prices of vegetables and fish have shot up in Khulna right after Eid celebrations, due to inadequate supply -- creating a burden for those belonging to the lower-income group.

Amid rising prices of food essentials and other basic necessities, the recent hike in prices of toiletries and other homecare products has added a new burden for people. 

There is a new problem in Bangladesh’s edible oil market but as always, the consumers end up being the sufferers.

Despite a bumper yield of potatoes, consumers are not being able to reap the benefits due to a five-year record hike in the retail prices of the vegetable.

Ninety-five food companies have got the permission to import a total of 4,09,000 tonnes of rice as the government tries to lower the prices of staple grain by increasing supply.

Edible oil refiners have cut soybean oil prices up to Tk 6 a litre though the consumers rights organisation said the rates should have been reduced by at least Tk 30 amid falling prices of the item in the global market.

Chattogram residents who buy essentials from Trading Corporation Bangladesh (TCB) had to suffer yesterday, as Chattogram District Administration postponed TCB operations, reportedly without notice.

Consumers Association of Bangladesh has said the process of fixing fuel prices without holding any public hearings is “illegal”.