Sugar prices rise again

At a time when sugar is selling for Tk 130 per kg at the retail level, the country’s sugar refiners have proposed to increase its price to Tk 112 from Tk 107.

In less than three months, the sugar refiners have proposed to increase the price of the daily essential for the second time.

The Bangladesh Sugar Refiners Association (BSRA) has proposed to the government to increase the price of sugar by Tk 5 per kg from February 1, said a press release issued on Thursday.

According to the release, the association made the proposal after considering the price of sugar in the international market, the dollar exchange rate, and the production costs of local refiners.

As per the new price rate, loose sugar will be sold at Tk 107 per kg, currently selling at Tk 102 per kg, while packaged sugar will be retailed at Tk 112 per kg which is selling for Tk 107 per kg at present.

However, in reality, the price of sugar is already higher in the local markets than the price fixed by the association.

Loose and packaged sugars are currently selling for Tk 115 and Tk 130 per kg respectively at the kitchen markets in the capital. On Thursday, loose sugar was sold at Tk 115-120 per kg at retail markets and packaged sugar at Tk 125-130 per kg.

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

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