Local sugar price up by Tk 14 a kg

The government has increased the price of sugar produced by the state-owned factories by Tk 14 to Tk 99 per kg at the retail level.

The price of the essential item has been revised in line with the global and local market prices, the Bangladesh Sugar and Food Industries Corporation (BSFIC) said in a statement on Thursday.

The price hike comes at a time when kitchen markets in Dhaka have been witnessing a huge scarcity of sugar in recent days.

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With the fresh revision, the price of BSFIC-produced sugar at the mill level will now be Tk 85 per kg, up from Tk 74 a kg while the dealers have to buy sugar at Tk 87 per kg.

Besides, the price of 1kg packet of sugar at the mill gate has been hiked to Tk 90 per kg which was Tk 75 a kg.

The 1kg packet can also be bought from the corporate superstore or the basement of the sugar industry building at Tk 92.

The new prices will come into effect immediately, the BSFIC said.

On October 6, the Ministry of Commerce hiked the price of sugar by Tk 6 a kg and fixed the price of loose sugar at Tk 90 per kg and that of branded packaged sugar at Tk 95.

On October 23, the Bangladesh Bank said the government will import 1 lakh tonnes of sugar soon to control the price hike. There is no shortage in sugar supply this year compared to last year, it added.