Govt to buy 50 lakh tonnes of Soyabean oil

The government is taking various initiatives to provide various products at low prices to the limited earning people. As part of it, the Trading Corporation of Bangladesh (TCB) has taken initiative to buy 50 lakh litres of soybean oil in 2023-24 fiscal year.

Sources said TCB has set a target of procuring 26.40 crore liter of soyabean oil in the annual purchase plan for the fiscal year 2023-2024. Of them, 6.10 crore liters of soybean oil purchase contract has been completed so far.

TCB has decided to purchase 50 lakh liters of soybean oil locally with the aim of selling TCB products at subsidized prices to 1 crore low-income families across the country.

Two suppliers took part in the tender. The official price of soybean oil per liter is fixed at Tk 166.22. Among them, City Edible Oil Limited set the price at Tk 154.29 per liter and Super Oil Refinery Limited at Tk 155.05 per liter.

Tender Evaluation Committee and Board of Directors of TCB unanimously recommended the supply of 50 lakh liters of Soybean oil in 2-liter pet bottles from City Edible Oil Limited, the lowest bidder in the tender.

A total of Tk77,14,50,000 will be spent at the rate of Tk154.29 including advance income tax, VAT and transportation cost to TCB warehouses.