Oil crisis to end in 7-10 days: Commerce adviser

The soybean oil market will stabilise in the next 7 to 10 days, said Commerce Adviser Sheikh Bashiruddin.

He said this while talking to journalists after a meeting of the Advisory Council Committee on the current labour situation of industrial establishments in Beximco Industrial Park at the meeting room of the Shipping Ministry at the Secretariat on Wednesday (February 12).

When attention was drawn to the fact that there is an oil crisis in the market, and that this opportunity is being taken to charge higher prices, the commerce adviser said, "At the moment, if you look at prices of all the Ramadan products in the market - dates, chickpeas, pulses, sugar – only the oil prices are high. Hopefully, in the next seven to 10 days, the oil prices will decline and the supply shortage will be eliminated."