Despite grocers selling sugar at prices higher than those set by the government, the commerce minister of Bangladesh announced that the price would be determined after the Eid-ul-Azha festival. In May, the retail price for unpackaged sugar was fixed at Tk 120 per kilogram (kg), while packaged sugar was set at Tk 125 per kg. However, due to insufficient supply, consumers were forced to buy sugar at retail prices ranging from Tk 120 to Tk 140 per kg.
On June 19, refiners and millers proposed a 20 percent price increase to compensate for high import costs and global sugar price hikes. As of now, consumers are purchasing sugar at Tk 148 to Tk 150 per kg. The Bangladesh Trade and Tariff Commission is working on adjusting prices in response to international market fluctuations. The commerce minister also expressed intentions to ask the National Board of Revenue (NBR) to reduce import duties on raw sugar to lower local market prices. Additionally, the government has already reduced prices of edible oil in line with international market declines. The minister encouraged private sector entrepreneurs to explore the export potential of Ayurvedic medicine to earn foreign currency, following the success of neighboring countries in this sector.
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