The state-run Trading Corporation of Bangladesh (TCB) has reversed its decision to raise sugar prices by Tk 30 per kilogram, following widespread criticism. The price will remain at Tk 70 per kg, as it was before the proposed hike.
The initial announcement of the price hike was made on the night of March 6, only to be rescinded the following day.
Bangladesh faces an annual sugar demand of approximately 20 lakh tonnes, while the operational sugar mills can only produce 2.1 lakh tonnes. The country heavily relies on imports, covering 97% of its annual sugar demand. The recent fire incident at the S Alam Sugar Mill in Khatungonj disrupted the stability of Bangladesh’s import-dependent sugar market, despite government assurances of ample supply.
TCB, known for providing essential commodities at affordable prices to low-income card-holding families, including edible oil, pulses, rice, and sugar, commenced the second phase of sales nationwide on March 7, ahead of Ramadan. During this phase, subsidized prices for various essential items will be available, including two liters of edible oil at Tk 100 per liter, two kg of lentils at Tk 60 per kg, one kg of sugar at Tk 100 per kg, dates at Tk 150, and five kg of rice at Tk 30 per kg.
