In light of India’s recent ban on sugar exports, Bangladesh is stepping up its endeavors to obtain special permission from its neighbor to import the essential commodity before the upcoming Ramadan, according to officials at the Ministry of Commerce (MoC), reported The Financial Express.
The MoC officials stated that Bangladesh has formally requested permission to import 100,000 tonnes of sugar. The aim is to ensure a stable supply and prices during the holy month when demand traditionally surges in the country.
In a communication transmitted through the Ministry of Foreign Affairs on Sunday, the MoC instructed the Bangladesh High Commission in New Delhi to engage with the relevant Indian authorities and seek the necessary permission.
The communication stated that State Minister for Commerce Ahasanul Islam Titu had a telephone conversation with the Indian Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution Affairs Piyush Goyal on January 24. During the conversation, Titu requested special consideration, and Goyal assured him of providing the required permission. The state minister also urged prompt action on the annual import quota previously proposed by Bangladesh.
Although India currently prohibits the export of sugar and onions, officials stated that the country has recently assured Bangladesh of granting permission to import 50,000 tonnes of sugar.
Currently, sugar is both scarce and expensive in the local market, with traders not adhering to the government-fixed rate, as per market sources. The Trading Corporation of Bangladesh’s daily market review reports sugar retailing at Tk 140-145 per kg.
