Traders in Bangladesh are selling sugar at higher rates than the price fixed by the government and they are demanding the government to hike the rates, reports Bdnews24.
Dhaka’s markets report the price of loose sugar at Tk 135 per kg and packaged sugar at Tk 140-150 per kg despite fixing the sugar prices at Tk 120 and Tk 125, last month by the commerce ministry.
The Sugar Refiners Association has sent a proposal to the Tariff Commission demanding a hike in the price of loose sugar to Tk 140 and packaged sugar to Tk 150, said Commerce Secretary Tapan Kanti Ghosh.
Defending the sale of sugar at a price higher than the government-fixed prices, he said it is difficult to keep the market stable when the global market is volatile.
“The rise in prices of sugar in the international market led the Bangladesh millers to hike prices despite agreeing on the prices fixed by the government last month,” he further added.
