Traders urged to sell edible oil at government-fixed price

Leaders of the Khatunganj Trade and Industries Association have called upon businesspeople to sell edible oil in the wholesale market at the prices set by the government.

"Buy soybean oil and palm oil from factories at the government fixed rates. Do not sell the key kitchen ingredient at prices higher than government-set rates," Mahbubul Alam, president of the organisation, urged traders at a views-exchange meeting on the ongoing market situation at the organisation's office in Chattogram city on Thursday.

Mahbubul Alam, also president of the Chattogram Chamber of Commerce and Industries, has also urged the business community to come forward to keep the supply system of daily essentials in order.

More than 50 traders from Khatunganj, one of the country's largest wholesale commodity markets, discussed the issue at the meeting.

At the programme, the traders say they would not buy edible oil even if the refineries sold the products at a higher price than the government fixed price.

Abul Bashar Chowdhury, senior vice-president of the association, said, "A specific policy should be formulated by the government, mentioning how long a product can be kept at storage at the import and wholesale stages. Only then awareness will increase among the traders."

Earlier, the Directorate of National Consumer Rights Protection on Wednesday conducted a drive in the Khatuganj wholesale market and fined a trader Tk50,000 for selling edible oil at a price more than the government-fixed price.

Senior Vice President Abul Bashar Chowdhury, General Secretary Syed Sagir Ahmed, Joint General Secretary Alamgir Parvez and other business leaders also spoke.

On 6 February this year, the government fixed the prices of edible oil on the local market amid rising prices on the global market. The price of one litre of soybean oil at mill gate is set at Tk140 while Tk143 at retail, and that of palm oil is Tk130 per liter at mill gate while Tk133 at retail.