Sugar prices are high in Bangladesh due to its shortage whereas a major market player in the country claims there is no scarcity of sweeteners. Biwajit Saha, director of corporate and regulatory affairs, of City Group, said, “The millers are supplying around 4,500-5000 tonnes of sugar in the market daily and there is no shortage of supply of sugar. But where is the sugar going.” The group is one of the two major players in the sugar market.
“We are selling sugar from moving trucks at Tk 95 per kg else the traders would have sold it at Tk 120 per kg to consumers,” he said.
However, the wholesaler and retailers are of different opinions. They say that there is a shortage of sugar supply in the market and they do not have sugar to keep in their shop for selling.
As per the media report, the trader claims that he is buying sugar at Tk 95 then how can he earn a profit by selling sugar at the government rate of Tk 90.
There is no sugar in the market for the last 15 days as the dealers have suddenly stopped supplying sugar to the market, said another retailer.
A reserve of around 1.50 lakh tonnes of unrefined sugar is in five groups. Apart from this around 3.30 lakh tonnes of sugar is to be imported to meet the local demand, as per the government instructions.
