TCB Reverses Decision To Hike Sugar Price

The Trading Corporation of Bangladesh (TCB) has reversed its decision to raise the price of sugar by Tk 30 per kilogram to Tk 100 amidst strong criticism. Consequently, TCB will maintain the price of sugar at Tk 70 per kg. Initially announced on Wednesday evening, the price hike was retracted the following day.

Bangladesh faces an annual sugar demand of around 20 lakh tonnes, while its operational sugar mills can only produce 2.1 lakh tonnes. As a result, the country relies on imports for 97% of its annual sugar requirement.

However, the recent devastating fire at the S Alam Sugar Mill in Khatungonj has disrupted Bangladesh's import-reliant sugar market, despite assurances from the government regarding sufficient supply.

TCB provides essential commodities such as edible oil, pulses, rice, and sugar at affordable prices to low-income families holding beneficiary cards.

The second phase of sales commenced nationwide on March 7 ahead of Ramadan, offering subsidized prices for essential items.

These include two liters of edible oil at Tk 100 per liter, two kg of lentils at Tk 60 per kg, one kg of sugar at Tk 100 per kg, dates at Tk 150, and five kg of rice at Tk 30 per kg.