TCB to start selling edible oil from mid-May

The Trading Corporation of Bangladesh (TCB) will start open market sale (OMS) of some essential items, including edible oil, from the mid of May in Dhaka and other divisional cities.

The Ministry of Commerce is working to re-fix the prices of essentials, including edible oil, as their prices have gone up on the global market, said an additional secretary to the ministry.

Primarily the TCB will engage 400 trucks for OMS after fixing the prices of commodities, he said.

In the month of Ramadan, the TCB sold soybean oil at Tk 110 per liter, but the price of soybean and other edible oil jumped both on local and global markets, so it is needed to re-fix the prices of TCB’s edible oil and other commodities, the official added.

Commerce Minister Tipu Munshi will brief reporters on edible oil supply and management issues at his secretariat office on Monday, Senior Information Officer of the ministry Abdul Latif Bakshi told UNB on Sunday.

Besides, Tipu Munshi will talk formally with the traders, edible oil importers and refiners regarding the current situation of edible oil price and supply in the market.