Trader fined Tk50,000 for hoarding soybean oil in Ctg
The fine was imposed after officials discovered approximately 6,700 litres of soybean oil stored at a warehouse in the Chandgaon area of Chattogram
The Directorate of National Consumer Rights Protection (DNCRP) has fined a trader Tk50,000 for stockpiling edible oil and creating an artificial shortage in the market.
The fine was imposed yesterday (10 March) after officials discovered approximately 6,700 litres of soybean oil stored at a warehouse in the Chandgaon area of Chattogram City.
The operation was led by Faiz Ullah, deputy director of DNCRP's divisional office, with the assistance of Assistant Director Md Anisur Rahman.
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According to Faiz Ullah, the warehouse, owned by Messrs MM Enterprise, a dealer of TK Group, contained 423 cartons of soybean oil—over 100 cartons more than the recorded inventory.
"Investigations revealed that the business was not only stockpiling oil to manipulate the market but also forcing customers to purchase non-essential items alongside the oil," he said.
A fine of Tk 50,000 was imposed on the proprietor, Md Mohiuddin. The stored oil has been ordered to be released for wholesale distribution to retailers without conditions.
Authorities have warned of strict action against similar hoarding practices to ensure fair market supply.
