The Bangladesh government has approved the purchase of 37.5 million liters of edible oil from international sources and 10 million liters locally to prevent an artificial shortage during the upcoming Ramadan. Additionally, 10,000 tons of lentils will be procured. The total cost for the oil purchase is estimated at Tk 642.45 crore, while lentil procurement will cost Tk 72.20 crore. The Trading Corporation of Bangladesh (TCB) will distribute these products nationwide.

The approval came during a meeting of the Cabinet Committee on Government Purchase chaired by Economic Adviser Dr. Salehuddin Ahmed. The imports include 20 million liters of soybean oil from Nigeria’s Vidok Farms and Exports Ltd, 12.5 million liters from the U.S.-based Stewart Klobanu Gerhard, and 5 million liters from Malaysia’s C Millennium Trade Sdn Bhd. Locally, one crore liters of rice bran oil will be sourced through open tender from three domestic firms.

Officials stated that the oil will be sold through TCB at prices lower than the government-fixed retail rate but higher than the procurement cost, ensuring no subsidy burden. The move aims to stabilize market prices and ensure adequate supply during the fasting month.