The government has increased the sugar price by Tk 3 per kg ahead of the upcoming holy month of Ramadan.
Industries Minister Nurul Majid Mahmud Humayun on Sunday announced the revised price at a virtual press briefing on the selling activities of sugar by the Bangladesh Sugar and Food Industries Corporation (BSFIC) and the activities of Bangladesh Standard and Testing Institution (BSTI) for preventing selling of sub-standard and adulterated foods during Ramadan.
As per the new price chart, the BSFIC will sell a kilogramme of packed sugar at Tk 68 which was Tk 65, while non-packed/loose sugar at the mill gate will be sold at Tk 63 instead of previous Tk 60.
The annual demand for sugar in the country is around 1.8 million tonnes.
Of the total demand, around 0.3 million tonnes alone are required during the month of fasting.
A section of unscrupulous traders increased the prices of sugar for their personal interests considering its high demand during Ramadan.
The market insiders believe that the government decision on raising the sugar prices might leave a negative impact on its prices in the markets.
The government has a stock of 50,000 tonnes of sugar for this year's Ramadan against the usual stock of around 0.12 million tonnes during Ramadan in the previous years.
The industries minister warned that the government would take stern action against the selling of sub-standard and adulterated foods during the month of fasting.
He said punitive actions would also be taken against the traders involved in artificial price hike and hoarding of goods.
The supplies of essential commodities will remain as usual during the ongoing coronavirus pandemic, he added.