TCB to sell soybean oil at unchanged price as crackdown on hoarding continues

The Trading Corporation of Bangladesh is going to sell soybean oil at an unchanged price as the authorities have found another 300,000 litres of products stashed away for profiteering amid a shortage.

Staff Correspondentand District Correspondentsbdnews24.com
Published : 12 May 2022, 08:06 PM
Updated : 12 May 2022, 08:06 PM

Mobile courts of the Directorate of National Consumers Right Protection fined businesses hundreds of thousands of takas in total in more than a dozen districts on Thursday as a crackdown on illegal hoarding continued.

The soybean oil and palm oil, found bottled and loose in drums during the drives, were sold at fair prices.

The TCB said in a notice its dealers will begin selling soybean oil on trucks at up to 300 places across the country for 13 days from May 16. The price has been kept unchanged at Tk 110 per litre.

Soybean oil was Tk 160 per litre in the retail market when TCB was selling the product at the unchanged rate last month before Eid-ul-Fitr. Now the new price has been set at Tk 198 per litre.

Businesses, sensing the price hike amid the Ukraine-Russia war, started stashing away cooking oil before Eid, creating a shortage during the festival. They intended to sell the products now after the price hike.

TCB said it will also sell sugar at Tk 55 per kg, lentil at Tk 65 and gram at Tk 50 per kg.

One customer will be allowed to buy 2 litres of soybean oil, 2 kilograms of sugar, 2 kilograms of lentil and gram as per demand.

Toufique Imrose Khalidi
Editor-in-Chief and Publisher