Refined sugar prices rise by Tk 5 per kg

Bangladesh Sugar Refiners Association has increased the price of loose refined sugar by Taka 5 per kg to Taka 107 per kg and packaged refined sugar by Taka 4 to Taka 112 per kg.

The new prices will be effective from February 1, according to a press release published by the Bangladesh Sugar Refiners Association on Thursday.

Earlier on November 17, 2022, the price of refined sugar was increased by Taka 13 per kg to Taka 102 per kg for loose sugar and Taka 108 per kg for packaged ones.

The price was increased considering the price hike of unrefined sugar in the global market, dollar price increase, and increase in operational costs of local mills, reads the statement. 

The press release added that the decision was taken after consulting with the Bangladesh Trade and Tariff Commission and the Ministry of Commerce.

According to the Ministry of Commerce, Bangladesh's annual demand for sugar is 20 lakh tons, whereas it locally produces only 30,000 tons and imports the rest of 19.7 lakh tons.

Source: BSS