A Directorate of National Consumer Rights Protection (DNCRP) team has seized 6,120 litres of loose soybean and palm oil from a shop in Chattogram.
Elias Hossain, the owner of the shop, was slapped with a fine of Tk2.5 lakh for hoarding the oil.
The oil was seized during a raid jointly conducted by DNCRP and RAB-7 at the shop named Aas Aad Banijjalay in Saltgola area under the district's Bandar police station on Sunday.
Mohammad Fayez Ullah, deputy director, Chittagong Division, DNCRP, said the shop owner had bought the hoarded oil in March when prices of the commodities were lower.
"He was selling the stockpiled oil at a hiked price. He told us that he had bought the oil from brokers but did not provide further details," added Fayez.