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TCB stops selling sugar due to shortage

Industry: Commodity, Consumer & Retail

Due to a severe shortage of supply and skyrocketing prices that have exceeded the government-fixed rate, the Trading Corporation of Bangladesh (TCB) has suspended the sale of sugar to family cardholders starting this month. Local suppliers have been unable to provide sugar at the government’s specified prices due to its unavailability in the market. Currently, TCB is only selling edible oil and lentils under its regular program for family cardholders, except in Dhaka city. To address the situation, TCB has initiated the import of sugar from Brazil, Turkey, and the United States, with the first shipment scheduled for June 15.

Another option being explored is importing sugar from India to alleviate the crisis temporarily. TCB expects to sell the imported sugar from July onwards, and an upcoming shipment from Brazil is anticipated to reduce prices and increase availability. The retail price of sugar has reached a record high of Tk 140 per kilogram, leading to a decline in supply. TCB had also increased the price of sugar last week after the government adjusted the retail price for the open market. The country’s monthly demand for sugar stands at 175,000 tonnes, the majority of which is imported. TCB sells 10,000 tonnes per month and has received government approval to import 75,000 tonnes of sugar.

 

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