The Trading Corporation of Bangladesh (TCB) is all set to procure 8 million litres of soybean oil to sell the essential cooking ingredient at an affordable price.
It has already floated a tender to buy the cooking oil locally, officials said.
Board of directors of the state-run trading agency has also given green signal to purchase the kitchen essential, said an official at the TCB.
It has taken the move as part of its purchase plan approved by the Commerce Ministry. It sells soybean oil at a subsidized rate as part of occasional market intervention drives that aims at stabilizing prices of essentials.
The TCB has been operating its sales drive at subsidized rates across the country since the outbreak of the Covid-19 pandemic in the country.
The number of beneficiaries of the program has increased significantly due to the pandemic, said a TCB official.
Under the drive, it sells soybean oil, sugar, lentil, and onion occasionally.
Earlier, the TCB launched its drive to provide essential items to some 10 million low-income families ahead of the last holy month of Ramadan.
The program is now being operated every month across the country.
Soybean oil is now being sold at Tk110 per litre while sugar and lentils at Tk55 and Tk65 per kg respectively.