TCB plans to import refined palm oil from Malaysia: Official
‘Tender likely to be floated within a month’
Reported by: AKM Moinuddin, UNB Staff Writer, from Kuala Lumpur
Reported on: July 16, 2012 16:23 PM
Reported in: Business
Reported on: July 16, 2012 16:23 PM
Reported in: Business
Kula Lumpur, July 16 (UNB) – Bangladesh has planned to import refined palm oil from the international market through the Trading Corporation of Bangladesh (TCB) whenever necessary to cut dependence on local refiners and keep the market stable round the year, said an official here on Monday.
“We’re exploring both the refined and crude palm oil market here…we’ve talked to five to six Malaysian suppliers. We’ve a plan to float an international tender within a month to that end,” TCB Chairman Brig Gen Sarwar Jahan Talukder told reporters at Seri Pacific Hotel after a meeting with suppliers.
If things go well, he said, it will take only 21 days to get the delivery as per requirement from Malaysia while it takes at least two to three months to import from other countries. The TCB chairman, however, did not tell the names of the palm oil companies.
Sarwar Jahan said they also had talks on import of pulse from Malaysia.
Replying to a question, he said, “We’re also in talks whether the refined palm oil, if things finalised, will be bottled here in Malaysia or not…we don’t have our own resources for bottling.”
He said Bangladesh’s market is an open market and it is mainly occupied by the local refiners. “But our initiative won’t be conflicting as we’re planning to remove the miseries of consumers at the time of artificial price hike and crisis.”
The TCB will import the essentials for the consumers and there is no reason of conflict with the local refiners who also import edible oil from Malaysia, the TCB chief said.
Sarwar Jahan said the Malaysian palm oil companies do not know that they can directly take part in tender without any local agent in Bangladesh. “We’ve told them that it’s possible and we’ve given our website address, too.”
The TCB will initially import 20,000 to 30,000 metric tonnes of palm oil a year and invite international tender for the procurement, he said.
Another commerce ministry official who also was present at the meetings with the Malaysian refiners said, “TCB is planning to import the refined palm oil and likely to import the product at 25 litre container or more than that.”
The monthly demand for edible oil is 1.15 lakh to 1.25 lakh metric tonnes which usually goes up during the holy month of Ramadan.
The TCB chairman also said their preparation for the coming Ramadan has already been taken much earlier, and the essentials provided by the TCB are already in the market. “We hope the Ramadan market will remain stable.”
“We’re exploring both the refined and crude palm oil market here…we’ve talked to five to six Malaysian suppliers. We’ve a plan to float an international tender within a month to that end,” TCB Chairman Brig Gen Sarwar Jahan Talukder told reporters at Seri Pacific Hotel after a meeting with suppliers.
If things go well, he said, it will take only 21 days to get the delivery as per requirement from Malaysia while it takes at least two to three months to import from other countries. The TCB chairman, however, did not tell the names of the palm oil companies.
Sarwar Jahan said they also had talks on import of pulse from Malaysia.
Replying to a question, he said, “We’re also in talks whether the refined palm oil, if things finalised, will be bottled here in Malaysia or not…we don’t have our own resources for bottling.”
He said Bangladesh’s market is an open market and it is mainly occupied by the local refiners. “But our initiative won’t be conflicting as we’re planning to remove the miseries of consumers at the time of artificial price hike and crisis.”
The TCB will import the essentials for the consumers and there is no reason of conflict with the local refiners who also import edible oil from Malaysia, the TCB chief said.
Sarwar Jahan said the Malaysian palm oil companies do not know that they can directly take part in tender without any local agent in Bangladesh. “We’ve told them that it’s possible and we’ve given our website address, too.”
The TCB will initially import 20,000 to 30,000 metric tonnes of palm oil a year and invite international tender for the procurement, he said.
Another commerce ministry official who also was present at the meetings with the Malaysian refiners said, “TCB is planning to import the refined palm oil and likely to import the product at 25 litre container or more than that.”
The monthly demand for edible oil is 1.15 lakh to 1.25 lakh metric tonnes which usually goes up during the holy month of Ramadan.
The TCB chairman also said their preparation for the coming Ramadan has already been taken much earlier, and the essentials provided by the TCB are already in the market. “We hope the Ramadan market will remain stable.”
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