The state-run Bangladesh Sugar and Food Industries Corporation (BSFIC) is unable to increase the supply of sugar as the prices are rising due to short supply in the domestic market, reports The Daily Star.
The lower sugar production in the state is one of the major reasons leading to the price hike of sweetener in the country.
The state-owned mills produced around 24,500 tonnes of sugar in 2021-22 which was the lowest in the last 14 years. It was around 50% lower than the sugar produced in the previous fiscal year (48,000 tonnes) and less than a third of the 82,000 tonnes produced in 2019-20.
Ahead of the beginning of the crushing season, the available sugar stock of 2,350 tonnes will be released, said the officials.
According to the media report in Bangladesh, owing to the lower stock, the corporation suspended selling sugar in the market through its dealers on October 13.
Md Ariful Rahman Apu, chairman of BSFIC said, “We have a very nominal quantity of sugar in stock and we are helpless at this moment. We also do not have funds to import the commodity.”
