No shortage of sugar in the country: BB
Traders increased the prices of sugar by Tk10-15 per kg over the last couple of weeks on the excuse of supply shortage.
However, the central bank says the country should not have any shortage in sugar supply as it has imported adequate amounts of sugar this year.
"There is no shortage in sugar supply this year. Moreover, another 1 lakh tonne of sugar will be imported soon. Strong monitoring can bring back the sugar market to normal, we believe," the central bank, in a press release on Sunday, said.
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According to its data, Bangladesh imported some 17 lakh tonnes of sugar in 2021. In the first nine month of the current calendar year, the import was 16.5 lakh tonnes.
Presently, the country has an annual demand of 18-20 lakh tonnes of sugar, the lion's portion of which is imported. Private conglomerates City Group, Meghna Group, S Alam Group, Igloo and Deshbandhu Group are the leading sugar importers.
When contacted, Bangladesh Bank Spokesperson GM Abul Kalam Azad told The Business Standard that the statement that the price of sugar is on the rise due to a shortage in supply is not true.
"Sugar imports are adequate," he said and called for market monitoring.
Earlier on 6 October, the commerce ministry set non-packed sugar price at Tk90 per kg and packed sugar at Tk95 per kg. The on-paper prices are yet to come into effect in reality.
