Dhaka: Despite the improvement in the supply of gas to the refiners. the prices of sugar continue to remain high in the domestic markets in the country, reports The Daily Star.
Sugar factories were hit by the shortage of gas in July affecting their operations after the government stopped purchasing liquefied natural gas from the international markets due to the depletion of foreign currency reserves.
This resulted in a hike in sugar prices as the lower gas supply affected the operations of the refineries which decreased their production by 60%. The prices rose to Tk 125 per kg from Tk 90 two months ago. The retailers are now selling sugar at Tk 110-120 per kg.
S M Mujibur Rahman, head of accounts of Meghna Group of Industries said, “The sugar production at our refineries has returned to normalcy and now there is no gas crisis at least from the last two weeks.”
The government in the last week of October asked the Petrobangla to supply adequate gas to refiners and since then the Titas Gas Transmission and Distribution Company Limited are supplying gas to the factories, said Md Salim Milah. Director for operations of the state-run utility service provider.
A wholesaler in Old Dhaka said that they are getting about 50% of the sugar that they are demanding and this inadequate supply results in the hike in sugar prices.
