Govt to buy 10m litres of rice bran oil for TCB

The government will purchase 10 million litres of refined rice bran oil for the Trading Corporation of Bangladesh to support its subsidised sales programme.

The Cabinet Committee on Government Purchase approved the proposal at a meeting at the Secretariat on Wednesday, chaired by Finance and Planning Minister Amir Khasru Mahmud Chowdhury.

Under the proposal, the government will buy two million litres each from Green Oil and Poultry Feed Industries in Dhaka and Pradhan Oil Mills Limited in Gaibandha.

It will purchase another three million litres each from Majumder Bran Oil Mills Limited in Jashore and Majumder Products Limited in Dhaka.

The government set the purchase price at Tk 181.50 per litre, bringing the total cost to Tk 181.50 crore.

The government has set a target of purchasing 230 million litres of edible oil for TCB. It has already procured more than 156 million litres.

Officials expect the latest purchase to increase TCB’s stock and help the agency continue selling edible oil to low-income consumers at subsidised prices.