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Edible oil refining and marketing companies have said that more edible oil is being supplied to the market than usual in view of the upcoming holy Ramadan. Therefore, there is no fear of any crisis in the supply of edible oil in the market during Ramadan.
The Bangladesh Vegetable Oil Refiners and Banaspati Manufacturers Association, an organization of edible oil refining companies, gave this information in a press release on Sunday (Feb 16, 2025).
The organization said that the recent news of a shortage of edible oil in the market has created concern among general consumers. In this situation, the organization has requested consumers and edible oil traders not to panic and buy more edible oil than necessary.
The release said that there is no chance of a crisis in terms of supply in the market against demand. However, if there is a crisis due to the tendency of some traders to hoard due to increased demand during Ramadan, that too will be eliminated. Because the prices of crude soybean and palm oil in the international market are stable. In this situation, no one has the opportunity to make abnormal profits.
The country's leading edible oil producing companies City Group, Meghna Group, TK Group, and Bangladesh Edible Oil have imported much more edible oil than the demand, the notification said, adding that these oils will come to the market in the next 7-10 days. In addition, the organization is maintaining regular communication with the relevant ministries and departments of the government to resolve the edible oil crisis.
In such a situation, the association assured the edible oil traders and consumers that they were making every effort to overcome this crisis. The association has suggested that the government should further increase market supervision so that the ongoing crisis does not have a negative impact on the supply and prices of edible oil.
Source: Online/OFA
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