Trading Corporation of Bangladesh (TCB), the state marketing agency, will import some 2.75 crore litres of soybean oil  with a cost of Tk 509.33 crore from three edible oil refinery companies through an international tender process.

The Cabinet Committee on Government Purchase (CCGP) in a meeting on Wednesday approved a proposal placed by the commerce ministry to this end. The meeting was presided over by Finance Minister AHM Mustafa Kamal.

After the meeting, in a virtual briefing, additional secretary Syed Mahmud Khan said that the local refineries will supply 2.75 crore litres of edible oil to reduce prices through TCB truck sales.

He also said the first local edible refinery ‘City Vegetable Oil Company’ will supply 1.10 crore litres of soybean oil with an expense of Tk 203.32 crore, estimating per litre price at Tk 184.84.

And, ‘Sunshine Edible Oil Company’ will supply 55 lakh litres of soybean oil with a cost of Tk 101.47 crore, considering per litre price at Tk 184.50.