TCB also hikes sugar price by Tk10 per kg

The Trading Corporation of Bangladesh (TCB) has also increased the price of sugar on Saturday, after the government readjusted its retail price last week increasing by Tk 16 per kg.

Increasing by Tk 10, TCB fixed the retail price of sugar at Tk 70 per kg.

The prices of edible oil and red lentil, however, remained unchanged in the new price list of TCB released on Saturday. Earlier on December 14, TCB increased the prices of sugar and red lentil by Tk 5 per kg.

Meanwhile, TCB will start selling products at new prices from Sunday. Commerce Minister Tipu Munshi will inaugurate the sale activities for the month of May in Merul Badda area in the capital.

Each of the one crore TCB family card holders across the country will be able to buy products worth Tk 430 at a time, including two litres of oil at Tk 110 per litre, 2 kg of red lentils at Tk 70 per kg and one kg of sugar at Tk 70 per kg.

The family card holders could buy this package of government subsidised products at Tk 420, after the prices of lentil and sugar was fixed respectively at Tk 70 and Tk 60 per kg, increasing by Tk 5 per kg, on December 14.

At present, sugar is selling for Tk 140 per kg in the kitchen markets of the capital. Before the Eid, until the last week of April, lose sugar was sold at Tk 115-120 at the consumer level.

The sugar price started increasing by leaps and bounds from the beginning of May. Even a shortage of sugar was created in the market. At that time, the government-fixed price of lose sugar for retail buyers was Tk 104 per kg. But no trader sold sugar at that price.

Finally, in the last week, the government increased the retail price of sugar by Tk 16, fixing at Tk 120 per kg, following a proposal of sugar mill owners requesting price hike.

But the traders did not accept that price. Lose sugar is selling for Tk 128-130 per kg in the wholesale market and in the retail market, the price is above Tk 140 per kg currently.

Various food processing companies as well as the common consumers are facing trouble due to this volatile situation in the sugar market.

Sugar is an essential daily commodity used in various foods and drinks at home.

Buyers say that the sudden abnormal increase in the sugar price along with the rise in the prices of other commodities has added more pressure to the people from lower and middle-income groups.

The consumers along with many within the government have blamed a syndicate of unscrupulous traders for the price hike.