"Prices of edible oil, rice and wheat have increased in the market during last few days for which we recommended that the government rationalise the duty structure on crude and refined edible oil," Additional Secretary to the Ministry of Commerce and Chairman of the Inter-ministerial Monitoring Committee on Prices of Essential Products Golam Mostakim said after a meeting at his office.

The current duty on imported crude edible oil is 22-23 percent and around 45 percent on refined edible oil. If the gap between the import duties on crude and refined edible oil was reduced, it could bring a positive impact on the price of edible oil in the market, Mostakim said.

The committee also recommended import of edible oil and baby food through Trading Corporation of Bangladesh (TCB).

It also suggested reducing the prices of sugar, which is in stock at the TCB, and importing edible oil with the money earned from selling the sugar.

However, Mostakim said there were no positive changes in the prices of wheat and rice in the market despite the implementation of zero-duty on imports of these two products.

Sources said the committee concluded that climate change, increase of price of fuel, increase of production cost and high transportation costs are to be blamed for price spiral of essentials.

The committee will place the recommendations to the commerce adviser for approval within a few days.

Representatives of ministries concerned were also present during the meeting.