Bangladesh will buy 5.5 mln tons of soybean oil
On Sunday, the Bangladeshi government approved separate bids for the purchase of about 5.5 million liters of soybean oil and 150,000 tons of fertilizer to meet the country’s growing demand, the Dhaka Tribune reports. A committee of the Advisory Council of Councilors on Government Procurement (ACCGP) approved the tender at its eighth meeting, chaired by Dr. Salehuddin Ahmed, financial adviser to the interim government.
According to documents provided by the Ministry of Finance, five bids were approved at the ACCGP meeting held at the Bangladesh Secretariat. Among them, the proposal of the Ministry of Commerce, according to which the state-owned Trading Corporation of Bangladesh (TCB) will purchase 5.5 million liters of soybean oil using a local open tender (OTM) from City Edible Oil Limited, with each liter costing Tk 157.9 ($1.33).
In recent years, Bangladesh has significantly increased its oil imports. In 2023/24, the country purchased 575 thsd tonnes of soybean oil.It is expected that despite the growth of domestic production (in 2023/24 – 364 thsd tonnes), by 2032/33, Bangladesh will increase the import of soybean oil to 890 thsd tonnes.
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