The prices of sugar and soybean oil have been increased by traders, and the products are suddenly back in the market after a weeklong supply crunch, reports Bdnews24.
According to the media report, the government adjusts the prices of a number of essential products, but this time the commerce ministry has remained silent.
The refiners increased the price of sugar by Tk 13 per kg in November. They have cited the reason for the lack of gas for production and higher dollar price for imports. As the government did not respond to their proposal, they increased prices last Thursday.
Sugar was sold at Tk 108 per kg at Karwan Bazar on Sunday. Retailers had already raised the prices citing a lack of stock amid the supply crunch.
Nusrat Jabin Chowdhury, the additional secretary, said the minister is the competent authority to speak about the rising prices of sugar.
The companies are not allowed to hike prices as per the rule, said AHM Shafiquazzaman, head of the Directorate of National Consumer Rights Protection.
