The price of both loose and package sugar will decline by Tk3 per kg with effect from Saturday.
The price was raised by Tk 5 per kg for both loose and packaged on February 1 this year.
As per the recommendation of the Trade and Tariff Commission and commodity price review task force, the Ministry of Commerce took the decision of reducing the sugar prices on Thursday.
As per the ministry notification, the maximum retail price of loose sugar has been fixed at Tk 104 instead of Tk 107 and packaged sugar at Tk109 per kg from Tk112.
Earlier the ministry increases sugar prices taking into account the increase in the international market price and in the exchange rate of the US dollar and the production cost.
Despite the price fixed by the commerce ministry, the market price of sugar is high. The loose sugar is currently selling at Tk115 to 118 per kg and packaged sugar at Tk120 to 125 per kg.