Sugar price hit new record

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Sugar price in the local market has been as high as Tk 75 per kilogram in some areas of the city.

The holy month of Ramadan is approaching nearer and the prices of essentials have already got up for a few weeks, particularly edible oil, onion, potato etc. The rise of sugar price has added more problems to consumers.

In the holy month of Ramadan the consumption of sugar increases by 28 percent as most of the house holds prepare food and drinks with sugar.

The price spiral is due to a shortage in the supply and the hoarding tendency of the businessmen.

The closure of four out of six sugar mills is a cause of limited supply of sugar.

The international sugar price is also in an upward trend as major supplier Brazil slashed its production.

However, the government says that private sector has 2 lakh tonnes  of sugar in hand therefore there should not be a demand supply gap.

The two out of four closed sugar mills may be operational in the next month. The price may decrease then.

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