From March 7, TCB will sell sugar at Tk 100 a kg
Senior Commerce Secretary Tapan Kanti Ghosh says
Loose sugar will be Tk 120 a kg, packaged sugar Tk 125
Indian mills produced 31.1 million tonnes of sugar since the current season began on October 1, a fall of 5.4 per cent year on year, as many mills closed early due to limited availability of sugar cane, a leading trade body said on Tuesday.
Sugar prices have reached a record high internationally, which has had a ripple effect on Bangladesh’s wholesale markets, including those in Dhaka and Chattogram.
From April 8, loose sugar will be Tk 104 per kg, packaged Tk 109
The commerce ministry yesterday asked millers and refiners to reduce sugar price by Tk 5 per kilogramme at the retail level three weeks after the revenue authority reduced import duty for raw and refined sugar in a bid to bring down the prices of the sweetener.
The commerce ministry will ask the refiners and millers to reduce the price of sugar by Tk 5 a kilogramme (kg) as the government has reduced the import tax and value-added tax (VAT) on the sweetener.
Sugar prices edged up in the wholesale market of Bangladesh within days after refiners declared that they would sell the sweetener at higher prices from the first day of February.
Sugar has become dearer with prices going up by Tk 15 a kg at retail markets as millers cut supplies blaming insufficient gas flow at refineries.
The sugar market will return to normalcy in a day or two, said AHM Shafiquzzaman, director general of the Directorate of National Consumers Right Protection (DNCRP), today.
The government today reduced the palm oil (super) price by Tk 8 per litre and raised the sugar price by Tk 6 per kg.
India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices and could cap this season's exports at 8 million tonnes, government and industry sources told Reuters.
The sugar price should not cross Tk 60 per kilogramme as there is a steady supply in the country, Commerce Minister Tofail Ahmed says.
The proposed additional customs duty on sugar import will be withdrawn says the Finance Minister AMA Muhith