Sugar Price Hiked By 70 Taka Per Sack

The fire at S Alam Refined Sugar Industries in Karnaphuli Upazila of Chattogram has started affecting the sugar market of Khatunganj.

Despite the Ministry's claim that there will be no problem in the supply and price of sugar in the market due to the fire, the price of sugar has increased by Tk 60-70 per maund in one of the country's consumer goods wholesale markets.

Although there is no crisis in the supply of sugar in the market, the concerned said. But the sudden rise in prices is being blamed on dishonest syndicates.

The traders of Khatunganj say that the fire at S Alam Group was an accident. Capitalizing on this opportunity, the mill owners of Dhaka are increasing the price of sugar. If large mill owners create a crisis by reducing supply, both the wholesale and retail markets will be affected.

Those concerned say that the factory had unrefined sugar. It took time for them to be refined and come to the market. But the sudden rise in price of sugar is unreasonable.

The factory that caught fire is owned by Salam Group. Chairman and Managing Director (MD) of Shilpa Group Mohammad Saiful Alam visited it on Tuesday (March 5).

At that time, he said that unit-1, which kept unrefined sugar, caught fire in the fire. Adjacent refined sugar warehouse and refining machinery units are intact. The supply of refined sugar will start in a day or two as stocks remain intact. There will be no sugar crisis.

However, it was found out on Tuesday in Khatunganj that sugar is being sold for 6 thousand 750 taka per bag of 50 kg weight. A day ago i.e. Monday, sugar was sold in the market at Tk 6,680. Within a day, the price of sugar has increased by 70 rupees per bag.

Consumers Association of Bangladesh (CAB) vice-president SM Najer Hossain said, dishonest businessmen, were waiting for opportunities. They would increase the price whenever they got an excuse. Now they used the opportunity as soon as they got it i.e. increased the price. But the sugar that was in the warehouse was unrefined. These would take more time to reach the market. But day by day price increase is totally unreasonable.

Yesterday, Monday (March 4) around 4 pm, a fire broke out in unit-1 of the factory named S Alam Refined Sugar Industries in Ichanagar area next to Karnaphuli River. The fire was confined to the unit but could not be extinguished till Tuesday.

The district administration has formed a seven-member committee to investigate the fire incident. Additional District Magistrate Md. Mamunur Rahman has been made the head. The committee has been asked to report within three working days.