Sugar price to decline soon

Hundreds of trucks carrying onions are waiting at India's Ghojadanga land port to enter Bangladesh via the Bhomra land port, pending permission. Indian traders have prepared in advance for the possibility of onion imports. However, as 27th May, the Bangladesh government has not made a decision on onion importation. Customs officials at the Bhomra land port have not received any instructions regarding onion imports.

The chief of the Directorate of National Consumer Rights Protection (DNCRP) said that the government should maybe consider death penalty for people who hoard stuff and hostage market. Some companies stash goods and stop making more just to raise prices, which is bad. They filed cases against 54 of those companies and want to check prices and cattle for Eid. They talked about it at a fake parliament thing with a group called Debate for Democracy. They want to change the law to protect consumers better and get political parties to care about this issue.

During the 'Pre-Budget Discussion on Implementation of Tobacco Products' in Dhaka, speakers stressed the importance of raising retail prices and applying higher supplementary duties on all tobacco products, including cigarettes. They believed that this strategy would both reduce tobacco consumption and increase government revenue.

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.

Humayun Kabir Bablu, the Director of Bengal Group of Industries and the Managing Director of RTV, was awarded the Commercially Important Person (CIP) Award 2021 for Medium Category Industry by the Ministry of Industries on May 22. The award was presented to him in recognition of his remarkable performance in growing the country's economy by establishing industries, creating jobs, and raising national revenue in 2021.

The price of ginger in Bangladesh has increased by 180% in the past year due to a decrease in imports, a shortage of supply, and increased demand. The government is taking steps to address the price hike by importing ginger and encouraging farmers to grow more ginger. However, the price of ginger is expected to remain high in the near future.

In the last four and a half months, 53 importers imported 6,863 tonnes of ginger at an average rate of Tk 70 per kg through the Teknaf land port.