Meghna to supply Tk 189 crore soybean oil to TCB

Meghna Edible Oil Refinery Ltd has won a Tk 189 crore contract to supply soybean oil to the state-run Trading Corporation of Bangladesh (TCB), according to a decision of the cabinet committee on government purchase today.

The company, a concern of Meghna Group of Industries, will supply 1.10 crore litres to the TCB, which has been selling edible oil apart from sugar, lentil and onions at subsidized prices to one crore low-income families.

TCB sells soybean oil at Tk 110 per litre which is much lower than the current market prices. As per today's price update of the trading corporation, a litre of bottled soybean oil was being sold at up Tk185.

The state-owned corporation's intervention in the market for essential commodities has grown in recent years amid government focus to cushion the marginal people from the onslaughts of current inflation.