Meghna Edible Oil Refinery 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 yesterday.
The company, a concern of the Meghna Group of Industries, will supply 1.10 crore litres to the TCB, which has been selling edible oil apart from sugar, lentil and onion at subsidised prices among one crore low-income families.
The TCB sells soybean oil at Tk 110 per litre which is much lower than the current market prices. As per yesterday's price update of the trading corporation, a litre of bottled soybean oil was being sold at Tk 185.
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.
