Traders seek to raise sugar prices again

News Desk :
Traders are selling sugar at higher rates than the government-fixed prices and they want another hike now.

Loose sugar is sold at Tk 135 a kg and packaged sugar at Tk 140-150 in Dhaka’s markets, although the commerce ministry set the prices at Tk 120 and Tk 125 a month ago.

The Sugar Refiners Association has now sent a proposal to the Tariff Commission, seeking to raise the price of loose sugar to Tk 140 and packaged sugar to Tk 150, Commerce Secretary Tapan Kanti Ghosh said after a meeting on controlling prices on Sunday, reports bdnews24.com He defended the sales of sugar at higher than the government-fixed prices, saying it is difficult to keep the market stable when the global market experiences volatility.

Tapan said the millers of Bangladesh agreed to the prices fixed a month ago, but could not implement the new rates due to a rise in prices on the international market.

Even the Trading Corporation of Bangladesh could not bring sugar through international tender due to the global price rise, according to him.