Emerald to supply 40% of its oil production to TCB

Emerald Oil Industries Limited, a listed Food & Allied company, will supply 40 per cent of its rice bran oil production to the Trading Corporation of Bangladesh (TCB), said the company managing director Afzal Hossain.

The company is producing rice bran oil and marketing it under the brand name Spondon.

To contain the commodity price hike, the government has been selling sugar, pulses and onions in trucks, including soybean oil,
through TCB.

According to TCB, it would charge the same price for rice bran oil as it would for soybean oil.

Regarding the government’s decision, Afzal Hossain told The Business Post that the government has already hoarded the adequate amount of rice bran oil, which will be distributed before Eid.

“We have been continuing discussions with the government on this issue. After Eid, TCB will start selling supplied rice bran oil of Emerald” he said.

He further said that “We have already recruited dealers across the country, he said. Dealers will supply oil to different sectors with priority basis. We can, however, supply 30 to 40% of our oil to TCB.”

On June 28, Minori Bangladesh returned to production of Emerald Oil through a Japanese company.