Govt to control wayward edible oil prices.

Soybean-oil prices were jacked up thrice in a short span of few days, market surveys said, and government authorities took note of the market misdemeanor as the commerce minister came up with a note of warning. Commerce Minister Tipu Munshi Sunday said that the government would strengthen its monitoring for controlling the prices of essentials, including edible oils, so that "middlemen could not make profit illegally". He also said that a committee of the Commerce Ministry is also working to ensure fair price of the imported products on the local market. The minister said this at a briefing at the Commerce Ministry conference room after holding a meeting with the edible- oil businessmen. Referring to the price hike of edible oils on the local market, Tipu said, 'The price of edible oil on the international market has increased by 70 percent. Around 90 percent of the local demand of edible oil is being imported from abroad. As a result, the price of edible oil on the local market witnessed ups and downs in consistence with the price on the international market.' He said the government is taking necessary steps so that the prices of products are fixed on the local market in consistence with the international market. Noting that...