Sunday, April 11, 2021

Government institutions also increased the price of sugar



On the occasion of Ramadan, the price of government sugar has been increased by Tk 3 per kg. Bangladesh Sugar and Food Industries Corporation (BSFIC) will sell packaged sugar at Tk 65 per kg at Tk 65 per kg. Besides, the price of open sugar in the mill area has been increased from Tk 80 to Tk 63 per kg. Industries Minister Nurul Majid Mahmud Humayun said this at a virtual press briefing on Sunday on BSFIC's sugar sales activities to control the quality of essential food items during Ramadan.


Sources said that on April 8, BSFIC increased the price of sugar by Tk 3 per kg. Sugar imported in the open market of the capital for two months is also being sold at higher prices. According to the Trading Corporation of Bangladesh (TCB), the price of per kg sugar has risen by 2.22 per cent to Tk 80 in the last one month.


Market participants said the annual demand for sugar in the country is 1.8 million tonnes. Of this, the demand for Ramadan is three lakh tonnes. And with this three lakh tons of sugar, a class of dishonest traders increase the price every year on the pretext of Ramadan. In such a situation, the increase in the price of government sugar will have a negative impact on the market.


According to the source, the government stockpiles about one to one lakh 20 thousand tons of sugar every year during the month of Ramadan to curb the manipulation of the unscrupulous. However, this year's stock is quite low. Apart from that, six government sugar mills have been shut down. The production of the rest is also not satisfactory. As a result, the stock of sugar at the government level has come down to 50,000 tons ahead of Ramadan.


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