Self-sufficiency in sugar production

Sugar market in Bangladesh is still volatile even after fixation of maximum retail price of the commodity by the government. Though the price of loose sugar was fixed at Tk 107 a kilogram and that of packaged sugar at Tk 112, the item is still selling at Tk 118-130 a kg. Five years ago, sugar prices were around Tk 85-90. But now its price is above the reach of common people's purchasing capacity. Market manipulation by certain influential syndicate members are often blamed for this.

Moreover, the number of operational sugar mills in Bangladesh has significantly been decreasing since 2021. The government has shut down more than 11 sugar mills due to various issues. Consequently, the country is grappling with a severe sugar crisis, necessitating sugar imports from India to meet basic consumer demands. However, the ongoing Russia-Ukraine conflict has made importing sugar from India financially unfavourable for us.

These challenges have profoundly impacted Bangladesh's sugarcane industry, making the sugar market bitter-sweet for the population. Sugar serves as a fundamental ingredient in a whole lot of food production. The absence of affordable sugar is sure to have far-reaching consequences. The skyrocketing price of sugar has also affected food and beverage companies. A 500ml Coca-Cola bottle's price has recently been hiked from Tk 35 to Tk 60. The solution lies in the government's proactive awareness and supportive initiatives for the sugar industry. Swift actions, however, can alleviate this crisis.

The present rise in sugar price should be arrested immediately and ensure that it is within the acceptable limit. We urge the authorities concerned to look into the issue sincerely and take appropriate measures so that the sugar market cools off to some extent. Moreover, the government should take steps to make Bangladesh self-sufficient in sugar production.

Shabab Mazhar Wafi,

Student of Department of Marketing and International Business,

School of Business and Economics,

North South University, Dhaka,

wafiadlof@gmail.com