Govt sets new prices for sugar

The Commerce Ministry has reduced the prices of loose and packaged refined sugar to Tk 104 and Tk 109 per kg respectively.

A letter in this regard, signed by Mst Shamima Akter, joint controller of the ministry, was sent to the concerned on Thursday. 

The price reduction came after the National Board of Revenue lowered regulatory duties on sugar imports by 5 percent to keep the market stable ahead of Ramadan.

The fresh prices will come into effect from Saturday (April 8).

BSS adds: The letter said that the maximum retail price of sugar has been adjusted following recommendations from the Bangladesh Trade and Tariff Commission.

The Tariff Commission took the decision in light of the recommendations of the meeting on reviewing the market situation and price of commodities held on March 19 at the Secretariat.

Earlier on February 26, the National Board of Revenue (NBR) reduced the duty on the import of non-refined sugar by Taka 3,000 per ton and Taka 6,000 per ton for refined sugar.

Besides, the regulatory duty on sugar has been reduced to 25 percent from the existing 30 percent. 

A Commerce Ministry official said that the new price has been fixed considering the impact of reducing import duty.

Earlier on February 1, the maximum retail price of refined loose sugar was Taka 107 per KG while that of packaged sugar was Taka 112 per KG.