Refined sugar prices rise by Tk 5 per kg

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

The new prices will be effective from 1 February, according to a press release published by the Bangladesh Sugar Refiners Association Thursday. Earlier on 17 November 2022, the price of refined sugar was increased by Tk 13 per kg to Tk 102 per kg for loose sugar and Tk 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 2 million tons, whereas it locally produces only 30,000 tons and imports the rest of 1.9 million tons.