The Bangladesh Sugar Refiners Association (BSRA) has expressed concern over importers under-invoicing refined sugar shipments to maximize profits amid higher sweetener prices. This practice not only hampers local mills’ competitiveness but also results in revenue loss for the government. The BSRA has urged tighter import regulations and the establishment of an appropriate price for refined sugar to ensure market stability and protect jobs.
With local mills producing only a fraction of the required sugar, imports are necessary. However, some importers are allegedly evading duties by under-declaring import prices. Price verification and regulatory measures are needed to address this issue. Consumers are paying prices higher than the government-fixed rates due to increased production costs. NBR data shows that the majority of imported sugar is unrefined, sourced mainly from Brazil, India, Australia, the UK, and Malaysia.