Staff Reporter:
Commerce Minister Khandaker Abdul Muktadir yesterday said that the country maintains an adequate supply of edible oil and prices will not increase even by a single drop, following a strategic review meet-ing with producers and suppliers to address market concerns and ensure price stability.
“Based on internal government data and direct feedback from market stakeholders, there is an adequate supply of edible oil nationwide,” he told reporters after a high-level meeting with importers and refinery owners at the Ministry of Commerce conference room in the city.
The Minister identified panic buying as the primary driver of temporary supply strains and localized price volatility.
To understand the ground reality, the Minister, accompanied by the Commerce Secretary conducted a personal observation of the market in Shewrapara.
At major outlets located on the main road, such as Swapno and Best Buy, the Minister observed suffi-cient stock with prices strictly adhering to the labels on the bottles.
Upon visiting neighborhood shops located deeper inside the market area, the Minister found retailers claiming shortages.
In one instance, the minister said that a shopkeeper claimed to have only two 5-liter bottles left, which were hidden under the counter, and attempted to charge an additional Taka 2 to 3 per liter.
The Minister clarified that he conducted this visit as an observer to understand market dynamics firsthand, rather than in the capacity of a Magistrate or enforcement officer.
The Minister warned that a competition in buying among consumers creates artificial price pressure and provides dishonest sellers with the opportunity to exploit the public.
In response to suggestions regarding the pace of market supervision, the Minister committed to a more aggressive enforcement strategy.
Acknowledging a journalist’s observation regarding the effectiveness of the Directorate of National Con-sumer Rights Protection (DNCRP), the Minister stated that the public will see the reflection of intensi-fied monitoring efforts starting from today.
He said that the DNCRP has been directed to expand its operations, while district administrations have been assigned specific duties to supervise local markets and maintain discipline.
The Minister vowed to intensify monitoring to ensure that retailers do not hoard stock or overcharge consumers.
The Minister categorically dismissed rumors of a broader energy crisis, stating that there is no shortage of fuel oil, gas, or LNG imports.
He issued a stern warning against the abuse of the word crisis in relation to edible oil or fuel.
The Minister emphasized that using such terminology when no factual shortage exists is irresponsible and factually inaccurate, as the current supply levels for both food and energy remain stable.
Concluding the briefing, the Minister appealed to citizens to remain calm and purchase only what they need.
He noted that if a consumer who usually buys two liters suddenly purchases five bottles, it unnecessarily deprives other consumers and creates the illusion of a shortage.
“The price of oil will not increase even by a single drop,” the Minister reiterated.
He urged the public to remain vigilant and avoid participating in panic-driven purchasing, which only serves the interests of unscrupulous traders looking to create an artificial crisis.
