FBCCI holds meeting with traders to keep market stable during Ramadan

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) on Monday held a meeting with traders and key stakeholders to review the import, stock, supply, and price situation of essential commodities ahead of the upcoming month of Ramadan.

The meeting took place at the FBCCI office in Motijheel, chaired by FBCCI Administrator Md Abdur Rahim Khan, said a press release.

Leaders of wholesale and retail market associations said there are sufficient stocks of essential items including edible oil, sugar, onions, and pulses in the country.

They noted that prices are unlikely to rise during Ramadan if supply chains remain smooth, while urging authorities to take strict action against extortion at different stages of the supply chain.

Traders also requested consumers to avoid panic buying.

Business leaders, however, called for an end to harassment of small retailers in the name of market monitoring and urged the government to strengthen oversight at the importer and corporate levels rather than focusing only on retail markets.

FBCCI Administrator Abdur Rahim Khan said the upcoming Ramadan is particularly significant as it begins shortly after the 13th National Parliamentary Election, and stressed the need for responsible conduct by business leaders to protect consumer interests.

Market analysts, meanwhile, expressed concerns over possible energy shortages and weaker market supervision during the post-election transition period, which could be exploited by unscrupulous traders.

The FBCCI said the issues raised at the meeting would be conveyed to the relevant authorities.