The shortage of sugar in the country is artificial and was the result of the allegedly hoarding supply by some traders to increase their profits, said Industries Minister Nurul Majid Mahmud Humayun, reports Dhaka Tribune.
“There is enough supply of sugar in the country and the current stock is sufficient to fulfil our demand till next Ramadan. We have also asked the commerce ministry to buy one lakh tonnes of sugar,” he said.
The prices of sugar have remained higher at Tk115-120 per kg despite the government’s fixed rate of Tk102-108 per kg. The shortage of sugar and hike in prices is attributed to the gas crisis in problems in opening letters of credit (LCs) with banks, as per the Directorate of National Consumer’s Right Protection.
The Directorate has claimed that there were 375,000 tons of sugars in store and has penalized 278 traders Tk14.7 lakh in October after conducting 103 drives in the country.
