Govt to buy essential foods to contain their prices

The Trading Corporation of Bangladesh will purchase various foodstuffs from local markets to sell them at subsidised rates among low-income groups.

The government is set to purchase a huge quantity of essential commodities from both home and abroad in a bid to keep their prices stable in local markets.

As such, the Cabinet Committee on Economic Affairs yesterday approved a proposal by the food ministry to import 3.5 tonnes of wheat. Russia will supply 3 lakh tonnes of the cereal grain on a government-to-government basis.

The remaining 50,000 tonnes of wheat will be imported at $279.95 per tonne from a company in Dubai, which won the contract through open tender.

However, the price of wheat to be imported from Russia will be disclosed following a meeting of the Cabinet Committee on Government Purchase.

Meanwhile, the Trading Corporation of Bangladesh will purchase various foodstuffs from local markets to sell them at subsidised rates among low-income groups.

In this regard, the purchase committee has already approved a proposal to source 6,000 tonnes of lentil at Tk 104.9 per kilogramme (kg) and another 10,000 tonnes at Tk 104.44 per kg.

The committee also approved the purchase of 8,000 tonnes of sugar at Tk 134.50 per kg and 50 lakh litres of soybean oil at Tk 155.97 per litre.

Besides, a proposal for importing 40,000 tonnes of diammonium phosphate fertiliser from Saudi Arabia was approved at a rate of $581 per tonne.

Similarly, another proposal for importing 30,000 tonnes of muriate of potash fertiliser was approved at a rate of $389.75 per tonne.