The authorities on Wednesday fined two traders of edible oil Tk50,000 each for stockpiling and selling soybean oil at a price higher than that fixed by the government during a raid in Rangpur.
A total of 51,204 litres of soybean and palm oil have been found at a warehouse in New Senpara area of Rangpur city in a raid conducted by The Directorate of National Consumer Rights Protection.
Acting on a tip off, a team led by Afsana Parveen, assistant director of Consumer Protection Department in Rangpur, found 13,872 liters of soybean oil and 37,332 liters of palm oil in a warehouse.
The accused traders are Biswaljit Pal and Azizul Islam.
They were also ordered to sell the stockpiled oil to consumers within 24 hours at fair price.
Following the raid, Afsana Parveen warned traders not to stockpile edible oil and said: “Our operation will continue.”
The government has been conducting a nationwide drive to prevent stockpiling and overpricing of soybean oil in the market, following the record hike in edible oil price.
