Open sugar is being sold at Tk 135 to Tk 140 in the country`s market with an increase of Tk 5 in three days. Importers claim that the record price of sugar has increased in the international market. This is affecting the country`s market as well.
On February 26, the National Board of Revenue (NBR) withdrew the import duty on sugar and reduced the regulatory duty by 5 percent to keep prices normal in the market. Importers will get this benefit till May 30. After the duty exemption, on April 6, the Ministry of Commerce reduced the price of sugar by Tk 3. And the price of open sugar became Tk 104 per kg and packed sugar Tk 109 per kg.
However, today, packed sugar could not be found in the Mohammadpur Krishi Market, Karwan Bazar of the capital. And even if open sugar is found, the buyer has to pay 135 to 140 taka per kg. According to government agency TCB, the price of sugar has increased by 15 percent in one month. And increased by more than 62 percent in one year.
The President of Bangladesh Sugar Traders Association, Md. Mofizul Haque talked about the increase in the price of sugar. He claimed that there are three reasons behind the increase in the price of sugar.
Firstly, the shortfall in sugar production caused by the gas crisis last five-six months ago has not yet subsided.
Second reason is the price of sugar has gone up a lot in the international market.
Thirdly, India is the top sugar producing country in the world. However, due to low yield of sugarcane in the country, they have stopped exporting sugar.
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