The price of sugar in the country has dropped from Tk135 per kilogram to Tk125-127, marking a decrease of Tk8 to 10 per kilogram.
Similarly, the price of sugar has also dropped in the wholesale market, according to Md Anwar Hossain Chowdhury, joint secretary of the Bangladesh Sugar Dealer Business Association.
Muhammad Nur-e-Alam, manager of Production at the Bangladesh Sugar and Food Industries Corporation (BSFIC), said: "The annual demand for sugar in the country is 1.7 to 1.8 million tons. Among this, only 30,000 to 32,000 tons are produced in the country's sugar factories."
"At one time, there were 17 sugar mills in the country. Of these, two factories were privatized around 1991. To reduce losses, the production of another six factories was suspended in the fiscal year 2020-21. Currently, 9 factories are operational," he added.
Md Anwar Hossain Chowdhury, joint secretary of the Bangladesh Sugar Dealer Business Association, said: "Five companies sell sugar in the market. These are S Alam Group, City Group, Meghna Group, Deshbandhu Group, and Igloo. Additionally, BSFIC sells red sugar in the market."
He said: "Currently, in the wholesale market of Khatunganj in Chittagong, sugar is being sold at Tk118 to 120 per kg depending on the company. On the other hand, government sugar is being sold at the mill gate for Tk125, which has remained the same for a long time.
“However, the price of sugar has also decreased in the international market, so the price in the country should have decreased even further," he added.
Emdadul Haque Raihan, owner of P N Enterprise in Khatunganj, said: " Currently, in the Khatunganj market, a sack of sugar (37 kg) is being sold at Tk4,435 for Meghna Group, Tk4,415 for City Group, Tk4,360 for S Alam, Tk4,350 for Deshbandhu Group, and Tk4,405 for Igloo Group.
"The sugar market is currently on a downward trend. Due to low demand in the market, the price has decreased. However, it is difficult to predict how long this situation will last,” he added.
