A section of unscrupulous traders are cutting edible oil bottles to sell them in loose form in order to get higher prices ahead of the Ramadan, Commerce Minister Tipu Munshi said today.

The businesses are now selling loose oil at higher prices as they cannot manipulate the bottled oil prices which remain printed on the bottles, he said. However, the minister did not mention the names of the unscrupulous traders and companies who have been found involved in price manipulation.

Moreover, there are some middlemen who are trying to make a brisk business by holding edible oil to create an artificial crisis, he said. He spoke at a media briefing after a meeting with the senior officials of different ministries and government agencies at his secretariat office in Dhaka.

Munshi also warned stern action against the dishonest edible oil traders if anybody is found in price manipulation. The government will not increase the edible oil price now although the refiners have urged the commerce ministry to hike the cooking oil prices further, the minister also said.

The government will not allow sales of loose soybean oil in the country after May 31 and in case of palm oil the deadline will be December 31 of this year, as it is impossible to control quality and price of edible oil when they are sold in loose form.