Govt-set sugar prices flouted amid supply crunch

Highlights:

• Retailers in the Karwan Bazar, Moghbazar, Kalyanpur, and Mirpur areas complained of a supply crisis.
• Most of the shops in kitchen markets in the capital were closed, and the presence of shoppers was also thin.
• Shopkeepers expect the markets will be abuzz with activity again at the beginning of next week when people return to the capital.
• About 10 shopkeepers in Moghbazar said their stock of sugar had run out before Eid. Still, companies have not supplied them with item.

Cashing in on a supply shortage while things have yet to return to normalcy after the prolonged Eid vacation, shopkeepers in the capital who have stock are charging much higher prices than the government-set prices for sugar.

Retailers in the Karwan Bazar, Moghbazar, Kalyanpur, and Mirpur areas complained of a supply crisis while most of the shops in kitchen markets were closed, and the presence of shoppers was also thin.

Shopkeepers expect the markets will be abuzz with activity again at the beginning of next week when people return to the capital.

On 6 April, the government fixed the maximum retail price of refined loose sugar at Tk104 per kg and refined packaged sugar at Tk109.

However, in the market, packaged and loose sugar is currently selling for Tk125-130.

Retailers say that they did not get sugar as required towards the end of Ramadan and even they had to pay more than the government-set price to buy the sugar at wholesale.

About 10 shopkeepers in Moghbazar said their stock of sugar had run out before Eid. Still, companies have not supplied them with item.

One Anowar Hossain said, "I did not understand that sugar will not be available after Eid. I bought one kg of loose sugar from Moghbazar for Tk130 after visiting about 10 shops."

The wholesale sugar shops in Karwan Bazar were closed on Tuesday. Most of the shops in the kitchen market were still closed. Some grocery stores have opened outside the main market.

Md Monir, a salesperson at Haji Mizan Enterprises at Karwan Bazar, said many customers are asking for sugar and getting back empty-handed.

"Before Eid, we had to buy wholesale sugar above the price set by the government. We then sold sugar at Tk125 per kg," he added.

According to data from the Trading Corporation of Bangladesh, in one year, the price of sugar increased by 55% and is now selling for Tk120-125.

The commerce ministry's data shows that the annual demand for sugar in the country is 18-20 lakh tonnes, compared to which only 30,000 tonnes are produced locally.

According to sources in the ministry, sugar imports decreased by about 2.08 lakh tonnes during the July-December period of 2022 compared to the same period in 2021.

And the country's monthly demand for sugar is around 1.5 lakh tonnes, which doubles during Ramadan.

Broiler price drops slightly

Two days before Eid, the price of broiler chicken suddenly increased by Tk40 to Tk270-275 per kg. On Tuesday, it was seen selling for Tk250-265 per kg in Karwan Bazar and Kalyanpur.

And beef is still selling at a higher price. A day before Eid, it was sold at Tk800, up by Tk50 per kg. It was seen still selling for Tk800 at Karwan Bazar.

Vegetables get cheaper 

On a visit to the Karwanbazar, it was seen that the prices of all types of vegetables have fallen by Tk5-10 per kg.

Both eggplant and bitter gourd were selling for Tk40 per kg, and okra for Tk30.

Cucumber, which was sold on the eve of Eid and on the day of Eid for Tk120 per kg, is now being sold at a lower price of Tk40.

Green chili was selling for Tk50 per kg after it dropped by Tk30. However, the price of onions has increased by Tk5 to Tk50 per kg.