Commerce Minister Khandaker Abdul Muktadir has assured the public that the country has a sufficient supply of edible oil and that price will remain stable.
Speaking to reporters on Monday after a meeting with importers and refinery owners at the Ministry of Commerce, the minister said the government has reviewed the situation and found no reason for concern.
According to him, both government data and feedback from market stakeholders confirm that edible oil stocks across the country are adequate.
He noted that recent concerns in the market were largely driven by panic buying, which can temporarily create the impression of shortages and push prices up in some areas.
To assess the situation first-hand, the minister, accompanied by the commerce secretary, visited markets in Shewrapara. At large retail outlets on the main road, including Swapno and Best Buy, he observed that edible oil was readily available and being sold at the prices printed on the bottles.
However, the situation appeared different in some smaller neighbourhood shops inside the market.
The minister said some retailers claimed they had very little stock. In one shop, he found that two five-litre bottles were kept hidden under the counter, while the seller attempted to charge an additional Tk2-3 per litre.
The minister clarified that he visited the market as an observer to understand the real situation, not as an enforcement officer.
He warned that excessive buying by consumers can create unnecessary pressure on supply and provide dishonest traders with opportunities to take advantage of the situation.
The minister said the Directorate of National Consumer Rights Protection (DNCRP) has been instructed to strengthen market monitoring, while district administrations will also increase supervision to prevent hoarding and overpricing.
He also dismissed rumours of an energy crisis, saying there is no shortage of fuel oil, gas, or LNG imports, and that supply of both food and energy remains stable.
Urging people to remain calm, the minister asked consumers to purchase only what they need.
“The price of edible oil will not increase even by a single drop,” he reiterated, calling on the public not to engage in panic-driven buying that could create artificial shortages.
