TCB to sell soybean oil at lower price, saving Tk 14 per liter

Staff Report: PNN

To ease pressure on consumers amid rising commodity prices, the Trading Corporation of Bangladesh (TCB) has taken a new initiative to sell soybean oil directly in the market.

Currently, bottled soybean oil costs around 199 taka per liter in the market, while TCB will sell the same product at 185 taka per liter.

It is learned that the initiative is expected to begin before the upcoming Eid. If not possible, it will start immediately after Eid through open market sales.

For a long time, TCB has been selling essential goods such as rice, lentils, and oil at subsidized prices. However, this is the first time the organization plans to import edible oil directly and sell it in the open market like private corporations.

TCB Chairman Brigadier General Foysal Azad said that the oil will be sold at 185 taka per liter without any subsidy. He believes this will increase competition in the market and bring relief to consumers.

In the future, sugar, lentils, flour, and some spices may also be included in this initiative.

Economists believe this move could reduce artificial shortages, hoarding, and syndicate influence in the market. Consumers have also welcomed the initiative.