The Bangladesh Vegetable Oil Refiners' and Vanaspati Manufacturers' Association (BVORVMA) has assured consumers that the ongoing soybean oil supply concerns will be resolved soon.
In a statement issued on Sunday, the association emphasized that ahead of Ramadan, edible oil suppliers have increased their supply to meet growing market demand.
The organization affirmed that, based on current import levels and domestic supply, there is no real risk of a shortage. Any temporary crisis is likely due to stockpiling by certain traders, but the supply and pricing are stable, ensuring adequate availability during Ramadan.
The BVORVMA also dismissed concerns about abnormal price hikes, stating that global crude soybean and palm oil prices remain stable. Moreover, leading edible oil producers—including City Group, Meghna Group, TK Group, and Bangladesh Edible Oil Limited—have already imported a surplus of edible oil, set to enter the market within the next 7–10 days.
Addressing consumer concerns, the association urged buyers and retailers not to engage in panic buying. It reassured that the organization is in constant communication with government ministries and regulatory bodies to ensure a swift resolution of any disruptions.
To prevent future supply issues and price fluctuations, the BVORVMA called for increased market monitoring by the government while also seeking consumer cooperation and patience to maintain stability in the edible oil market.
