Sugar market volatility due to supply chain disorder

Dairy farmers in Pabna and Sirajganj are experiencing a drop in sales revenue due to reduced or stopped purchases by some companies during the curfew. Farmers are now relying on local traders to sell their milk at low prices. Around 34 lakh litres of milk are produced daily, with dairy companies buying 7-8 lakh litres and local traders the rest. Private companies and sweetmeat shops in the region are purchasing leftovers, and local traders are now paying Tk 50 per litre.

The government submitted responses to the High Court concerning the legality of its demand for unpaid VAT and fines exceeding Tk 7,000 crore from two oil companies. The Deputy Attorney General presented the replies to the court, which retained them in the case records. The contents of the replies were not disclosed.

The price of green chillies has surged in Dhaka, reaching up to Tk 400 per kg in retail markets due to various factors. Severe drought and heat at the start of the cultivation season reduced local yield, while heavy rains further hampered supply from different districts. Imported Indian green chillies are also expensive, selling at Tk 380-400 per kg. Despite regular imports through Hili land port, prices remain high across the country.

In the capital's market, the price of desi onions is currently 110 to 120 taka per kilogram, a 77 percent increase from a year ago and a 31 percent increase in one month. The Trading Corporation of Bangladesh (TCB) reports that this surge is partly due to recent heavy rains disrupting supply.

The price of gold in Bangladesh's market has reached a new record high, increasing by up to Tk 1,190 per Bhari. , the price for 22 carat gold of good quality will be Tk 1,20,081 per load, marking the highest ever seen in the country. Bangladesh Jewelers Association (BAJUS) attributed this rise to an increase in the price of pure gold locally. Previously, on March 21, the price rose by Tk 2,916, with 22 carat gold reaching Tk 1,14,074. Today's adjustment reflects new rates: 21 carat gold at Tk 1,14,622, 18 carat at Tk 98,246, and traditional gold at Tk 81,228, respectively.

At the 23rd Annual General Board Meeting of the Bangladesh Agro-Processors' Association (Bapa), the government was requested to lift the aromatic rice import ban. During the occasion at the Dhaka Club, they stated that the local aromatic market is tiny, but there is a high demand for Bangladeshi aromatic rice in overseas markets. It will enhance overall exports. They all indicate that they do not understand the significance of reducing the incentive for exporting agro-process products. Bapa also asked a reduction in the source tax for export.