Thursday, 30 March, 2023

Sugar price raised by Tk 5 per kg

  • Staff Correspondent
  • 27 January, 2023 12:00 AM
  • Print news
Sugar price raised by Tk 5 per kg

Bangladesh Sugar Refiners Association increased the price of loose refined sugar by Tk 5 per kilogram and packed refined sugar by Tk 4 per kg.

Bangladesh Sugar Refiners Association (BSRA) disclosed the new rate of sugar on Thursday through a press release.

The new price of loose sugar increased to Tk 107 from Tk 102 per kg and packed sugar increased to Tk 112 from Tk 108 per kg.

The new prices will be effective from February 1.

Earlier on November 17, 2022, the price of refined sugar was increased by Tk 13 per kg to Tk 102 for loose sugar and Tk 108 for packed ones.

Considering the price hike of raw sugar in the international market, increase in dollar price and operational cost of local mills they have increased the price of sugar, BSRA said.

The decision was taken after consulting the Bangladesh Trade and Tariff Commission and the Ministry of Commerce.

The decision was also notified to the senior commerce secretary, the Bangladesh Tariff Commission and all the chairmen of the sugar companies.

According to the commerce ministry, Bangladesh’s annual demand for sugar is 20 lakh tonnes, whereas the country locally produces only 30,000 tonnes and imports the remaining 19.7 lakh tonnes.

Many sugar traders claimed that due to a lack of supply of packed and loose sugar in the market, they have to sell sugar at a higher price.

Loose and packed sugar are being sold in the market at Tk 125-130 per kg, which suggests that the price of sugar was already higher in the local market than the price fixed by the association.