The Ministry of Commerce has taken the initiative to buy 55 thousand liters of soybean oil at a price of 3 taka 43 paise per liter less than the price set by the government. The government price of soybean per liter is 161.33 taka and the supplier will sell it to the government at 157.90 taka. Buying 55 thousand liters of soybean oil will cost 86 crore 84 lakh 50 thousand taka. City Edible Oil Limited will supply this soybean oil in 2 liter pet bottles.
According to sources, Trading Corporation of Bangladesh (TCB), an organization under the Ministry of Commerce, has a target of buying 28 lakh liters of soybean oil in the annual purchase plan for the financial year 2024-2025. So far 5 lakh 78 thousand liters purchase agreement has been signed. The Ministry of Commerce has decided to buy 55 thousand liters of soybean oil locally in the process of buying remaining soybean oil.
In view of the total demand, an initiative has been taken to buy CCB products at a subsidized price every month among about one crore low-income families with TCB family cards in the country (including city corporations and municipalities).
Following the Public Procurement Rules 2008 for procurement of 55,000 liters of soybean oil locally, 3 companies submitted tenders when tenders were invited in two newspapers and on the website of TCB and BPPA on September 22. In this, CT Edible Oil Limited expressed its desire to supply 55 thousand liters of soybean oil in 2 liter pet bottles at Tk 157.90 per liter.
On the other hand, Bashundhara Multi Food Products Ltd quoted Tk 163.25 per liter and Sonargaon Seeds Crushing Mills Ltd quoted Tk 172.85 per litre. According to Rule-16 (5A) of Public Procurement Rules, 2008, the official estimated price of soybean oil per liter is Tk 161.33.
According to sources, the tender of Sonargaon Seeds Crushing Mills Limited was considered as non-responsive in the selection of tenders by the Tender Evaluation Committee. On the other hand, the tenders of City Edible Oil Limited and Bashundhara Multi Food Products Limited are considered responsive. 55 thousand liters of Soybean Oil in 2 liter pet bottles proposed by the evaluation committee from the responsive lowest bidder City Edible Oil Limited at the rate of Tk 157.90 including advance income tax per liter, applicable MUSK and TCB warehouses at a total cost of Tk 86,84,50,000 Recommend purchase. In view of that, the price of soybean oil offered by the responsive lowest bidder is Tk 3.43 less than the official estimated price. Responsive lowest bidder City Oil Limited proposed price per liter including advance income tax, transportation to applicable Musak and CTB warehouses from Tk 157.90 to Tk 1.579 for 1 percent advance income tax and Tk 2 for transportation cost, the actual price stands at Tk 154.321.
It should be noted that according to the market data of TCB, on October 8, the last retail price of soybean oil per liter in the local market was Tk 167.50 from which the proposed price is Tk 9.60 per liter less.
According to the sources, taking into account all factors, City Oil Mill Ltd. has been recommended as the lowest bidder to supply 55,000 liters of soybean oil. 86 crore 84 lakh 50 thousand will be spent on buying 55 thousand liters of soybean at the rate of 157.90 taka per liter of soybean oil. Sources said that a procurement proposal in this regard will be presented to the Government Procurement Advisory Committee meeting for approval.
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