Bangladesh
Sugar Price TCB reverses decision to rise sugar prices
Dhaka, March 8: Trading Corporation of Bangladesh (TCB) withdrew from the decision to increase the price of sugar. The state-owned company will sell sugar at the previous rate of Tk 70 per kg. Earlier, TCB had hiked the price of sugar by Tk 30 to Tk 100 per kg yesterday.
TCB spokesperson Humayun Kabir gave this information to reporters in an audio message on Thursday.
It is known that the decision to increase the price of sugar by Tk 30 before fasting was criticized. As a result, it has been decided to withdraw the decision within 24 hours and maintain the previous price at Tk 70.
Meanwhile, traders have slightly increased the price of sugar in the market citing the incident of fire in the warehouse of a sugar factory in Chittagong as an excuse. However, due to that reason, there is no major shortage of sugar in the country's market yet. As a result of various initiatives of the government, the price of sugar has come down a bit recently.
Earlier on February 22, government mills had announced an increase in the price of red sugar by Tk 20 per kg a few hours after it was withdrawn. Bangladesh Sugar and Food Industries Corporation (BSFIC) decided to increase the prices. But on the night of February 22, they withdrew the decision to increase the price on the orders of the ministry.
