Friday, 1 July, 2022

Few traders blamed for unstable edible oil market

Says CCCI president

CHATTOGRAM: A few traders are responsible for creating an unstable situation in the country’s edible oil market as they look for high profit through hoarding, said Chittagong Chamber of Commerce and Industry (CCCI) President Mahbubul Alam.

He said those few traders are tarnishing the image of around 54 lakh businesspeople of Bangladesh.

CCCI president made the remarks while addressing a views exchange meeting on how to keep the market of essential commodities stable, held at Bangabandhu Conference Hall of the World Trade Center in the port city on Monday.

Mahbubul Alam said the prices of some imported commodities surged for different other reasons including the pandemic, Russia-Ukraine war and rise of dollar value.

He urged the leaders of all market and shop owners' associations to conduct regular market monitoring and become strict on hoarders. He said the businessmen are doing service to the country taking various risks. CCCI president called upon all to come forward to protect image of the business community through resisting those who are hoarding commodities for quick profit.

The business leader also laid emphasis on keeping the supply chain uninterrupted, same value of dollars at all banks, abiding by the law and keeping the prices of essential commodities within the affordability of the people.

Directorate of National Consumer Rights Protection, Chattogram Deputy Director (DD) Fayez Ullah said the businesspeople will have to come forward from their own position to check the illegal hoarding.

He requested the traders to sell the old products at previous price and new ones at the new price to avoid drives by the law enforcement agencies.

Other speakers at the meeting also suggested adjusting the difference between tariff prices of refined and crude oil for a minimum period of three to four months.

They also called for ensuring punishment for the unscrupulous traders, selling products to all dealers instead of limited ones, encouraging small traders to import consumer goods, reducing tariff for consumer goods and taking steps for keeping the prices of onion, garlic and ginger stable during the Eid-Ul-Azha.

The meeting was also addressed, among others, by CCCI Director Md Ahid Siraj Chowdhury Swapan, Khatunganj Trade and Industries Association General Secretary Syed Sagir Ahmed, Mohanagar Dokan Malik Samiti President Salamat Ali, Bangladesh Dokan Malik Samity Chattogram District President Saleh Ahmed Suleman and representatives of Pahartali Banik Samiti, Karnaphuli Bazar Samiti and Chaktai Aratdar Samiti.