The Trading Corporation of Bangladesh (TCB) will build an enough advance stock of five Ramadan essentials in an effort to help ensure smooth supply of those items during the fasting month beginning in July next, said officials.
The five items are edible oil, sugar and lentil, gram/chickpea and date the demand of which skyrockets during Ramadan because of their high consumption, knocking up the prices, UNB reports.
Though the officials would not say anything about the stock quantity right now, they told UNB that the TCB dealers will get the uninterrupted supply of the essentials as per their requirement during the holy month.
“There had been no problem over the last two years. There’ll be no problem this year, too,” TCB Chairman Brig Gen Sarwar Jahan Talukdar told UNB on Saturda...
Bangladesh, the world’s third largest cotton importer according to the U.S. Department of Agriculture, is on a mission to topple No. 1 importer China.
“Obviously, we wish to take China’s place, and that day is not so far off — two, three years’ time,” Mehdi Ali, general secretary of the Bangladesh Cotton Association, told WSJ Frontiers on Friday at an industry conference in Miami.
China’s imports are expected to drop 50% during the upcoming season as it winds down a strategic stockpiling program, according to the National Cotton Council, a U.S. industry group — leaving room for Bangladesh to expand its role in the international market.
The exchange rate of Taka vis-à-vis US dollar maintained stable tone last week. The market will see the same tone next week as well.
The average daily inter-bank USD/BDT transaction volume was about $25.73 million against around $50.23 million of the week before.
Most of the banks kept their published foreign exchange rates unchanged last week. The USD/BDT selling rates for importers of major foreign and private banks was at 77.82-78.35, while USD Buying rates from exporters were at 76.82-77.35. For non-commercial payments such as Tele Graphic Transfer ...
An eight-member team from Bangladesh Jute Mill Corporation (BJMC), the world's largest jute exporter, on Wednesday met the Oman Chamber of Commerce and Industry (OCCI) officials to explore business opportunities for jute products in oman.
"The meeting was fruitful. The OCCI officials are very much keen on our products and business plans. They have agreed to organise awareness programmes, seminars, workshops, and exhibitions of jute products in Oman in the coming months," Major General Humayun Khaled (rtd), the chairman of BJMC, told in an exclusive interview with the Times of Oman.
Canpotex Ltd, a Canada based company will supply 120,000 metric tonnes of Saskatchewan potash worth US$ 40 million to Bangladesh next year. There’s also an option worth another US$20 million for an additional 60,000 metric tonnes of the pink mineral used in fertilizer.
Premier Brad Wall was in Saskatoon when the Canadian Commercial Corp. and the Bangladesh Agricultural Development Corp. signed the deal.
Wall said the agreement will provide more jobs in the potash industry.
He also said the deal was planted when he visited Bangladesh a few ...
Bangladesh Petroleum Corp (BPC) is to sell 170,000 barrels of naphtha to Vitol Asia in May at a premium of $0.12 a barrel to Singapore quotes on a free-on-board (FOB) basis, a company official said on Tuesday.
This is the highest tender bid BPC has received since March last year.
Seven firms had competed for the tender, which opened on Tuesday, for the loading over May 10-12 from Chittagong.
Unipec came up with a discount of $0.38 a barrel while Itochu quoted a discount of $0.59 a barrel.
Other participants included MRI tradin...
