Dhaka: The Bangladesh Sugar and Food Industry Corporation (BSFIC) has proposed to increase the price of sugar at the millgate to Tk120 per kilogram, from the current Tk100 per kilogram, reported Tbsnews.
The BSFIC chairman, Md Arifur Rahman Apu, said that the price increase is necessary to keep pace with the country’s growing inflation and to ensure that farmers get a fair price for their sugarcane.
Explaining the rationale behind the proposed price increase, Chairman Apu stated that it is not an intentional effort to raise the prices of sugar or sugarcane. Instead, the adjustment aims to ensure that the price of sugarcane aligns with the country’s rising inflation, allowing farmers to receive fair compensation for their labor.
A comprehensive five-year action plan has been devised with a focus on the sugar mills, which is expected to bring about a substantial transformation in the country’s sugar industry.
As part of the 2023-2024 sugarcane planting season, there is a target to cultivate sugarcane across 5,500 acres of land within the jurisdiction of Madhukhali Sugar Mill in Faridpur.
Among those present at the inauguration program were Madhukhali Sugar Mill Managing Director Md Saifullah, General Manager (Finance) Khandkar Alamgir Hossain, General Manager (Administration) Muhammad Mizanur Rahman, General Manager (Agriculture) Muhammad Anis Uzzaman, as well as labor union representatives and various officials associated with the sugar mill.
