Govt okays TCB buy of 12.25m litres of soybean oil to cool heated mkt

Rationing edible oil also soon

Huge fertiliser import approved

FE REPORT | Thursday, 18 August 2022

The government approves procurement of 12.25 million litres of soybean oil at Tk 2.05 billion for rationing by the Trading Corporation of Bangladesh (TCB) to cool the overheated market.

Huge fertiliser import and local procurement are also approved to keep the market under control, as reports say sellers at field level are further jacking up even the government-hiked rates of the important agro-inputs.

Officials said the cabinet committee on government purchase gave the approval to these and other big purchase proposals Wednesday at a virtually held meeting, chaired by Finance Minister AHM Mustafa Kamal.

Also, some 5,000 tonnes of lentils will be bought for the trading arm of the government under direct-purchase method from local suppliers.

Briefing newsmen after the meeting was over, cabinet division additional secretary Abdul Barik said, "Soybean oil will be procured under two separate proposals."

Under one, three suppliers will supply the oil: Bashundhara Multi Food Products Limited (BMFPL) will supply 3.5 million litres, Sena Edible Oil Industry will supply 3.0 million litres, and Shun Shing Edible Oil Ltd will supply 2.0 million litres at Tk 171 per litre.

And Super Oil Refinery will supply 4.0 million litres of soybean oil under another approval at Tk 173.95 per litre.

Of the 5,000-tonne lentils, ACI Limited will supply 3,000 tonnes, 1000 tonnes from Roy Traders, and 1000 tonnes from Nadil Traders at Tk 111 per kilogramme.

Every month the TCB needs 2.0 million litres of soybean oil, says the additional secretary.

The meeting also approved import of 30,000 tonnes of bagged prilled urea fertiliser from Muntajat of Qatar at a cost of  Tk 1.525 billion and 30,000 tonnes of bagged granular urea from Karnaphuli Fertiliser Company Limited at Tk 1.515 billion by the Bangladesh Chemical Industries Corporation (BCIC).

Also, BCIC is given the go-ahead to import 30,000 tonnes of bulk granular urea from SABIC Agri-nutrients Company of Saudi Arabia at Tk 1.518 billion and another 30,000 tonnes from the same company at Tk 1.490 billion.

The cabinet body also approved appointment of six berth operators for the Chittagong seaport for the next five years.

A proposal to hire a joint venture of ZPN of Malaysia, DEMAS of the Netherlands, and JPZ Consulting of Bangladesh as project adviser for the Bangladesh Regional Inland River Transportation Project-1 also got the seal of approval. The cost is Tk 822.92 million.

Beijing-headquartered China Geo-Engineering Corporation has been awarded contract for design and construction of feeder line inside Dhaka city under the Dhaka Environmentally Sustainable Water Supply project at a cost of Tk 3.729 billion.

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