Bangladesh commodity traders try to raise sugar prices again
Bangladesh commodity traders sell sugar at higher prices than the government fixed prices and they want another increase now. Loose sugar sells for Tk 135 per kg and packaged sugar for Tk 140-150 in Dhaka markets, although the Ministry of Commerce set the prices at Tk 120 and Tk 125 a month ago.
The Sugar Refiners Association has now sent a proposal to the Tariff Commission, which seeks to raise the price of loose sugar to Tk 140 and packaged sugar to Tk 150, Commerce Secretary Tapan Kanti Ghosh said after a meeting to check prices on Sunday.
He defended the sale of sugar at higher prices than the government-set prices, saying it is difficult to keep the market stable when the global market is experiencing volatility.
Tapan said that millers in Bangladesh agreed to the sugar prices set a month ago, but that they could not implement the new prices due to an increase in prices on the international market.
Even the Trading Corporation in Bangladesh could not bring sugar through international tenders because of the global price increase, according to him.
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