Packaged sugar has nearly disappeared from the markets in the capital city, and there is also a shortage of non-packaged sugar, resulting in a further increase in prices. Sugar was being sold at Tk130-140 per kilogram, which is Tk10-15 higher than the government-set price. The Ministry of Commerce allowed refiners to raise the retail price by Tk16 per kilogram due to the international market’s price hike.
Retailers have been unable to obtain packaged sugar for the past 15-20 days, and the supply of non-packaged sugar is insufficient. Sugar suppliers attribute the crisis to abnormal dollar prices, LC opening restrictions, high import duties, and global volatility. They have proposed reducing import duties in the long term and are calling for a government subsidy to keep sugar prices affordable. The report from the task force on commodity markets reveals a deficit of 72,000 tonnes of sugar for FY23. Additionally, onion prices have increased despite new imports from India, with local and Indian varieties selling at Tk80 and Tk70 per kilogram respectively.
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