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The Financial Express

Adequate sugar stocks planned for Ramadan

FE REPORT | Published: January 22, 2020 10:48:24 | Updated: January 23, 2020 14:29:26


File photo (Collected) File photo (Collected)

The government has made a move to stock sufficient sugar to check its unusual price hike, especial during the holy month of Ramadan.

To this effect, commerce ministry has already urged the industries to make a buffer stock under the government initiative, officials said.

The country's annual demand for the sweet crystal substance is 1.8 million tonnes. During Ramadan, some 0.3 million tonnes of sugar are required.

As of last December, more than 0.881 million tonnes of sugar have been imported to the country.

The Bangladesh Sugar and Food Industries Corporation have set a target to produce 69,500 tonnes of sugar in the current fiscal year. There is currently an upward trend in sugar prices in the local market.

The ministry has, therefore, taken a premeditated plan to check an unusual hike in the prices of sugar, a senior official said.

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