Bangladesh imports 20 mln liters of soybean oil from Indonesia to stabilize the market
Bangladesh approved the import of 20 million litres of refined soybean oil from Indonesia under the TCB subsidy scheme. The $23.02 million deal aims to stabilize domestic edible oil prices and support low-income households through subsidized distribution.
The Bangladesh government has approved the import of 20 million litres of refined soybean oil from Indonesia to provide subsidised cooking oil to low-income households under the TCB card scheme. The decision was taken by the Cabinet Committee on Public Procurement chaired by the Finance Minister.
The procurement will be carried out through an international open tender and the contract will be implemented by the state-owned Trading Corporation of Bangladesh (TCB) under the auspices of the Ministry of Commerce. According to official sources, two bids were submitted in the tender, one of which was found to meet the technical and financial requirements.
The supplier has been identified as Indonesian company PT Trinity Chaya Energy. According to the terms of the contract, the purchase price is US$ 1.151 per litre and the total import cost is US$ 23.02 million. This allows the government to reduce price pressure in the domestic market and maintain the availability of the product for the low-income population.
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Source : Ukr Agro Consult
