Bizdata Insights Main Logo

BizData Insights

Sugar market become more unstable

Industry: Commodity, Consumer & Retail
Industry Intelligence Tag: Industry insights

In recent weeks, the country’s sugar market has become even more turbulent because of the supply shortage growing and the price increasing much ahead of Ramadan. While the government permitted the Bangladesh Sugar Refiners Association to raise the price by Tk 4 to Tk 112 per kilogram beginning of February 1, the price of packaged sugar has nonetheless reached as high as Tk 130 per kilogram on the local market.

According to data from the state-owned Trading Corporation of Bangladesh, the item’s price has gone up 50.33 percent in the last year. Nowadays, it sells for TK110-120 a kg in the city markets. Both wholesalers and merchants claim that the price of sugar has been rising practically daily on the local market for the past 15 days due to a supply shortfall. The DNCRP said, they will vigorously monitor the sugar market on February 1 in order to guarantee that people may purchase sugar, an essential product during Ramadan, at the price specified by the government. The retail price of unpackaged refined sugar was raised by Tk 5 to Tk 107 per kg while packaged refined sugar was raised by Tk 4 to Tk 112.  According to official statistics, the country’s annual need for refined sugar is around 20 lakh tonnes, yet only 30,000 tonnes of that demand are satisfied by local mills. The demand is estimated by the commerce ministry to be 1.5 lakh tonnes each month, and during Ramadan, it increases to three lakh tonnes. To keep sugar affordable, the government would need to ensure a sufficient supply during Ramadan.

 

 

 Source for more details:

NEWAGE

 

 

Source for more details:

Related News

Govt To Import 50,000 Tonnes of Onions from India

March 28, 2024

The Cabinet Committee on Economic Affairs approved a proposal from the Commerce Ministry to import 50,000 tonnes of onion from India in a meeting chaired by the Finance Minister on March 27. The decision entails the state-owned Trading Corporation of Bangladesh (TCB), under the Commerce Ministry, to import the agriculture good from Indian National Cooperative Export Limited on a

Yousuf Flour Mills Stock Price Soared by 129%

March 28, 2024

Yousuf Flour Mills Limited, a Dhaka Stock Exchange (DSE) SME platform listed company, saw its share price surge to become the most expensive on 24th March, closing at Tk3,482.4 per share. Within a span of just two and a half months, the stock skyrocketed by 129%, starting from Tk1523 per share on January 16. Despite the significant rise, the company informed the DSE that there was no

Potato Prices Set to Surge Over Tk50 Per KG

March 28, 2024

Potato prices in Bangladesh may soar to over Tk50 per kg this year due to a 20% decrease in production, as stated by the Bangladesh Cold Storage Association. Potatoes purchased for Tk25-30 per kg from farmers will lead to higher retail prices. The current market rate in Dhaka stands at Tk45 per kg. Cold storages have stocked 30% less potatoes in Munshiganj and 10-20% less in Thakurgaon and Rangpur.

India Extends Indefinite Ban on Onion Exports

March 24, 2024

India extends indefinite ban on onion exports, surprising traders as local prices drop sharply. The ban, initially imposed in December, was anticipated to end by March 31, but a government order states it will remain until further notice. Onion prices in Maharashtra have plummeted from 4,500 rupees to 1,200 rupees per 100 kg.

Out of 29 Commodities 26 Items Sold Above Govt-set Rates

March 23, 2024

Government-set price caps on 29 food items haven't been adhered to, with 26 items being sold above the set rates. Sonali chicken, priced at Tk 262/kg by the authority, is being sold for Tk 320-330/kg. Katla fish, eggs, and onions are the exceptions, being sold at the fixed rates. Various pulses exceed the cap by Tk 5-35/kg. Despite recent price drops, vegetables like cabbage and cauliflower are still sold at inflated prices.

Govt Permits Import of 83,000 Tonnes of Rice

March 23, 2024

Government orders private sector to import 83,000 tonnes of rice within a month to curb retail market price hikes. Approval granted to 30 companies for importing 49,000 tonnes of boiled rice and 34,000 tonnes of non-boiled rice. Importers must distribute rice by April 25 directly in market without re-packaging. Aim is to bridge gap before upcoming boro harvest. Current public sector food storage: 11,99,715 tonnes rice, 2,62,330 tonnes wheat, and 10,884 tonnes paddy.

Related News

Govt To Import 50,000 Tonnes of Onions from India

March 28, 2024

The Cabinet Committee on Economic Affairs approved a proposal from the Commerce Ministry to import 50,000 tonnes of onion from India in a meeting chaired by the Finance Minister on March 27. The decision entails the state-owned Trading Corporation of Bangladesh (TCB), under the Commerce Ministry, to import the agriculture good from Indian National Cooperative Export Limited on a

Yousuf Flour Mills Stock Price Soared by 129%

March 28, 2024

Yousuf Flour Mills Limited, a Dhaka Stock Exchange (DSE) SME platform listed company, saw its share price surge to become the most expensive on 24th March, closing at Tk3,482.4 per share. Within a span of just two and a half months, the stock skyrocketed by 129%, starting from Tk1523 per share on January 16. Despite the significant rise, the company informed the DSE that there was no

Potato Prices Set to Surge Over Tk50 Per KG

March 28, 2024

Potato prices in Bangladesh may soar to over Tk50 per kg this year due to a 20% decrease in production, as stated by the Bangladesh Cold Storage Association. Potatoes purchased for Tk25-30 per kg from farmers will lead to higher retail prices. The current market rate in Dhaka stands at Tk45 per kg. Cold storages have stocked 30% less potatoes in Munshiganj and 10-20% less in Thakurgaon and Rangpur.

India Extends Indefinite Ban on Onion Exports

March 24, 2024

India extends indefinite ban on onion exports, surprising traders as local prices drop sharply. The ban, initially imposed in December, was anticipated to end by March 31, but a government order states it will remain until further notice. Onion prices in Maharashtra have plummeted from 4,500 rupees to 1,200 rupees per 100 kg.

Out of 29 Commodities 26 Items Sold Above Govt-set Rates

March 23, 2024

Government-set price caps on 29 food items haven't been adhered to, with 26 items being sold above the set rates. Sonali chicken, priced at Tk 262/kg by the authority, is being sold for Tk 320-330/kg. Katla fish, eggs, and onions are the exceptions, being sold at the fixed rates. Various pulses exceed the cap by Tk 5-35/kg. Despite recent price drops, vegetables like cabbage and cauliflower are still sold at inflated prices.

Govt Permits Import of 83,000 Tonnes of Rice

March 23, 2024

Government orders private sector to import 83,000 tonnes of rice within a month to curb retail market price hikes. Approval granted to 30 companies for importing 49,000 tonnes of boiled rice and 34,000 tonnes of non-boiled rice. Importers must distribute rice by April 25 directly in market without re-packaging. Aim is to bridge gap before upcoming boro harvest. Current public sector food storage: 11,99,715 tonnes rice, 2,62,330 tonnes wheat, and 10,884 tonnes paddy.

BUSINESSMONITOR

Connect with


Dont Have Account? Please register Here