The government is currently examining a proposal to import 75,000 tonnes of sugar from the United Arab Emirates (UAE), as per The Financial express.
If sourced from the UAE, the sugar is intended to be distributed through the TCB drive, as confirmed by a trade official.
According to the media report, the state-run Trading Corporation of Bangladesh (TCB) is actively seeking to accumulate sugar reserves from both local and international channels. This initiative aims to ensure a stable supply of the commodity to around 10 million low-income families holding TCB cards under its monthly sales programme.
The Ministry of Commerce has delegated the task of evaluating the proposal to the Bangladesh Trade and Tariff Commission (BTTC), taking into account the dynamics of the global sweetener market.
A UAE state agency, specifically the Emiri Court Director of the government of Fujairah, has recently proposed supplying sugar to Bangladesh under a government-to-government (G2G) agreement.
The offered price for sugar stands at $810 per tonne CNF Chittagong, following a review of the applicable taxes.
A senior official commented, “We forwarded the proposal to the Trade and Tariff Commission for a review of international prices. They have been instructed to furnish a report at the earliest.”
TCB, a government entity, has faced challenges in selling sugar to its customers due to insufficient availability in recent months.
However, the commerce ministry wing is presently offering sugar to customers at Tk 100 per kg as part of its ongoing subsidised food distribution for Ramadan and Eid-ul-Fitr.
Under its sales initiative, TCB has raised the price of sugar by Tk 30 per kg. Previously, sugar was priced at Tk 70 per kg.
