The price of sugar in the country has decreased from Tk135 per kilogram to Tk125-127 per kilogram, reflecting a reduction of Tk8 to 10 per kilogram, reported local media Dhaka Tribune.
According to Md Anwar Hossain Chowdhury, joint secretary of the Bangladesh Sugar Dealer Business Association, the price of sugar has also fallen in the wholesale market.
According to Muhammad Nur-e-Alam, manager of Production at the Bangladesh Sugar and Food Industries Corporation (BSFIC), the country’s annual sugar demand stands at 1.7 to 1.8 million tons, with only a small fraction of 30,000 to 32,000 tons produced locally. “At one time, there used to be 17 sugar mills in the country, of which two were privatised around 1991 and another six closed in 2020-21 to cull losses; now only nine are functional, Nur-e-Alam elaborated.
Chowdhury said: “Five companies sell sugar in the market. These are S Alam Group, City Group, Meghna Group, Deshbandhu Group, and Igloo. Additionally, BSFIC sells red sugar in the market.”
“In the wholesale market of Khatunganj in Chittagong, the prices of sugar range between Tk118 to 120 per kg, depending on the company,” he said.
Chowdhury pointed out the global context: “The price of sugar in the international market has gone down, which means the price at home should have fallen by more.”
