Dhaka, Feb 12 (V7N) – For over a week, consumers in Dhaka have been struggling to find soybean oil in local markets, with many retailers reportedly bundling the product with other items to drive up sales. Amid rising public concern, Commerce Advisor Sheikh Bashiruddin acknowledged the shortage but assured that the situation would stabilize within the next seven to ten days.

Speaking to journalists following a meeting of the Advisory Council Committee on the current labor situation in industrial establishments at Beximco Industrial Park, held at the Ministry of Shipping at the Secretariat on Wednesday, Bashiruddin provided reassurances not only about soybean oil but also about the broader market situation ahead of Ramadan.

“There is a problem with oil supply, but essential goods will be readily available during Ramadan. Prices will not increase; rather, they will decrease,” Bashiruddin said optimistically in response to queries about the ongoing supply crunch and allegations of retailers exploiting the crisis by charging excessive prices.

He noted that other Ramadan staples such as dates, chickpeas, pulses, and sugar are currently stable in the market, singling out soybean oil as the only product facing supply issues. “The oil market will go from stable to down in the next seven to ten days, and the supply shortage will be eliminated,” the advisor added.

Despite these reassurances, many consumers remain concerned about the possibility of price manipulation during the holy month, especially given the recent history of commodity price volatility in Bangladesh. Market monitoring and strict enforcement against hoarding and price gouging have been repeatedly called for by consumer rights groups to prevent further disruptions.

END/MSS/AJ