May 31, 2010

Bangladeshi government to sell cheap soyoil

The government will sell soyoil at reasonable prices through its trading arm, the Trading Corporation of Bangladesh (TCB), starting in June 2010.

"From June, 12,000 tonnes of soyoil will be supplied to the market. The oil will be delivered to 1,700 dealers appointed by the TCB throughout the country," commerce minister Faruk Khan said at a meeting in Mongla in Bagerhat district on Sunday (May 30).

Mongla-based S G Oil Refineries Limited will supply the oil which it imports from Brazil and Argentina.

Chief executive officer of S G oil Babul Chowdhury said, "An agreement was signed in January 2010 with TCB and in accordance with the agreement, we will supply 12,000 tonnes of refined soyoil to TCB each month from June."

Speaking at the meeting, Khulna City mayor Talukdar Abdul Khalek asked the government to take further initiatives to increase foreign investment in the Mongla Export Processing Zone (EPZ) by utilising the facilities of the Mongla port.