Bangladesh: Government fixes sugar price at Tk 74-75 per kg

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Sugar refiners lowered the prices of sugar after the government issued a directive to them amid a continuous rise in the retail market.

According to the local media reports, as per the new rates, the cost of packaged sugar will be Tk 75 per kg and loose sugar will cost at Tk 74 per kg.

The press release issued by the government stated that the decision was taken after the meeting between the commerce ministry, Tariff Commission and the Bangladesh Sugar Refiners Association concluded on Tuesday.

However, some sections of traders have opposed the move stating that it is difficult to implement new rates. Abul Hasem, vice president of the Sugar Baboshayee (businessmen) Association was of the same opinion and said that they were not aware of the new prices. It is difficult to implement new prices, he said.

Sugar prices at mill gates are between Tk 73 and Tk 74 per kg and how we can sell the sugar at almost the same rate in the retail market, said Abdur Razzaque, a wholesaler in Khatunganj of Chattogram.

The Daily Star has reported that according to industry insiders, it is not possible to implement the new rates as prices have been increasing at the international level.

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