Bangladesh to buy soybean oil, sugar, wheat and lentils to sell in open market

28-Nov-2024 12:34 PM

The Trading Corporation of Bangladesh (TCB) is set to purchase key essential commodities—soybean oil, sugar, lentils, and wheat—as part of a government initiative to sell these items at subsidized rates to low-income families. This move is aimed at easing the financial strain caused by inflation for vulnerable groups.

The details of the purchases are as follows:

  1. Soybean Oil: 55 lakh liters (5.5 million liters) will be bought by Bashundhara Multi Food Products Limited at a price of 166 taka per liter, totaling 91.30 crore taka.

  2. Sugar: A total of 20,000 metric tons will be procured in two batches by Meghna Sugar Refinery. The first batch will cost 116.85 crore taka at a rate of 116.85 taka per kg, while the second batch will cost 115.85 crore taka at a rate of 115.85 taka per kg.

  3. Lentils: 20,000 metric tons will be purchased by Nabil Naba Foods Ltd, with a total expenditure of 97.97 crore taka for the first batch at 97.97 taka per kg, and 97.22 crore taka for the second batch at 97.22 taka per kg.

  4. Wheat: 50,000 metric tons will be acquired by Agrocorp International Pte Ltd, a Singapore-based company, at a price of 171.68 crore taka, equivalent to $286.08 per metric ton.

This initiative, part of the Open Market Sale (OMS) program, will allow TCB to distribute these goods at subsidized rates to reduce the economic burden on low-income families.