A trader was fined Tk100,000 for illegal stockpiling of soybean oil in Manikganj on Friday.
The Directorate of National Consumers' Right Protection (DNCRP) found 1,300 litres of five-litres and two-litres of edible oil in the warehouse of Kalipada and Sons, an oil dealer in the city.
According to the authorities, some traders have illegally stockpiled soybean oil in different markets of Manikganj.
Niranjan Banik, the owner of Kalipada and Sons, was fined for illegally stocking and selling oil in the open market instead of in the city market at a higher price.
The DNCRP conducted the raid in the city market under the direction of Deputy Commissioner Muhammad Abdul Latif.
Asaduzzaman Rumel, assistant director of the district office of DNCRP, said the bottles of oil found in the warehouse were stored during the last month of Ramadan.
"At that time, a five-litre bottle of soybean oil cost Tk795, which is at Tk990 currently. Niranjan, however, sold the oil at an additional cost of Tk20 per litre," he added.
