Source: Ukragroconsult (Ukraine)
The Bangladesh government on Sunday approved separate bids for the procurement of around 5.5 million liters of soybean oil and 150,000 tonnes of fertilizer to meet the rising demand in the country, reports the Dhaka Tribune. The committee of the Advisory Council on Government Procurement (ACCGP) at its eighth meeting chaired by Dr. Salehuddin Ahmed, financial advisor to the caretaker government, approved the tender.
According to the documents submitted by the Ministry of Finance, a total of five bids were approved at the ACCGP meeting held at the Bangladesh Secretariat. Among them is the Commerce Ministry’s proposal that the state-run Trading Corporation of Bangladesh (TCB) will procure 5.5 million liters of soybean oil from City Edible Oil Limited through a local open tender (OTM), with each liter costing Tk 157.9 (US$1.33).
Bangladesh has significantly increased its oil imports in recent years. In 2023/24, the country purchased 575,000 tons of soybean oil. Despite increasing domestic production (364,000 tons in 2023/24), Bangladesh is expected to increase its soybean oil imports to 890,000 tons by 2032/33.