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The country is in an uproar due to the sudden rise in the
price of sugar in the market. Along with the common people, Bangladesh Bank,
the regulatory body of the country's banking sector, has also become worried
about the sugar market. On Sunday (October 23, 2022), the organization said
that a sufficient amount of sugar has been imported into the country this year.
Another one lakh tons of sugar is being imported. The agency suggested market
surveillance to stabilize the sugar market.
However, the National Directorate of Consumer Rights Protection could not find any solution to control the situation in the sugar market even after launching a market raid last Saturday. During the campaign, the organization found the truth about the sugar crisis in the market. In an exchange meeting on the same day, Director General of the Consumer Rights Protection Directorate AHM Shafikuzzaman said that the gas crisis in the country had an impact on the sugar refineries. The production of the country's five refineries was reduced by 20 to 25 percent. We have spoken to the government officials, sufficient gas will be supplied to all refineries from today. It will have the same supply of sugar in the market in the next two to three days. However, even if the supply is low, the price will not increase, there will be a strict stand on why it increased from today, and we will not have a shortage of sugar. As much sugar as needed will be supplied.
In an exchange of views organized with traders, he said, our
demand is 1.8 million tons. All are import-dependent. Domestic factories
produced only 24 thousand tons, which is very insignificant. Raw material
coming through LC, cannot be refined. If we can maintain production there,
there will be no problem. There will be no shortage of gas from today.
In such a situation, the Trading Corporation of Bangladesh (TCB)
has decided to sell sugar at an affordable price. In a press release on Sunday
night, TCB said that it will sell sugar at the rate of Tk 55 per kg in
important and populated places of the capital on Monday. This activity will
start at one o'clock. The sale of sugar at affordable prices will continue till
further orders.
Apart from TCB family card holders, ordinary people can buy
this TCB sugar at the rate of Tk 55. A buyer cannot buy more than one kg of
sugar. However, the press release did not inform that TCB sugar will be sold in
some areas on Monday.
Earlier this month, the government fixed the price of open
sugar at Tk 90 per kg. But this price is not effective. Even at the beginning
of last week, the price of sugar was a little above Tk 95 per kg. Last
Thursday, open sugar prices rose above Tk 100.
Speaking to wholesale and retail sugar traders, consumers, and related persons last Saturday, it is known that open sugar is now being
sold at Tk 105 to Tk 110 per kg in the market.
Source:
Online/SZK
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