Eight edible oil importers sued for market manipulation

Bangladesh Competition Commission yesterday filed cases against eight importer companies for manipulating the production and supply of edible oil in the country.

The companies are: City Edible Oil Limited (Teer), Bangladesh Edible Oil Limited (Rupchanda), Meghna and United Edible Oils Refinery Limited (Fresh), Bashundhara Oil Refinery Mill (Bashundhara), Shabnam Vegetable Oil Industries Limited (Pusti), S Alam Super Edible Oil Company Limited (S Alam), Prime Edible Oil Limited (Prime) and Globe Edible Oil Limited (Royal Chef).

The commission has also served notices on the companies asking them to participate in the hearing of the cases.

The commission has filed the case after an independent investigation to ensure a competitive market.

The commission has the jurisdiction to sue the companies, an official of the commission told The Daily Star requesting anonymity.

"The preliminary inquiry will hear the discrepancies found against the companies."

He said the commission's own investigating team monitored the market and found that the allegations raised against the eight companies are primarily true.

The commission in a meeting on May 10 reviewed the report of the investigating team and took the decision to file cases, he said.

The Daily Star tried to reach one of the eight companies.

In response, Mohammad Dabirul Islam Didar, head of finance and accounts at Bangladesh Edible Oil Limited, said: "We will present our position to the commission on the day of the hearing. At present, we are doing our best to normalise the supply of oil in the market."