Sugar price hits Tk 60 a kg on short supply

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FE Report
The price of finished sugar reached at Tk 60 a kilogramme at the retail level Wednesday mainly due to the reduction in supply of the item, traders told the FE.
Earlier, in the middle of 2006 the prices of sugar crossed Tk 60 a kilogramme at the retail level.
The city's whole sellers said that the supply of refined sugar had fallen over the past couple of days.
Md Delwar Hossain, a merchant of sugar at Moulvibazar, told the FE: "We are getting poor supply from the mills; this is the main reason behind the rise in the price of sugar."
He also said the retailers are also hoarding the item on the occasion of Eid-ul-Fitr.
As of Wednesday, the price of sugar at the wholesale market was Tk 1900 a maund against Tk 1690 a maund two days back.
Market operators hinted at that the prices of sugar would fall once the supply becomes normal.
However, refiners claimed that they had been supplying sugar on an average 4000 tonnes a day which is almost equal to the country's daily demand.
"We are also supplying sugar to the TCB (Trading Corporation of Bangladesh) dealers, who are selling the item to wholesalers or retailers," claimed a senior official at the Abdul Monem Sugar Mills.
He also said they had been supplying sugar at Tk 39 a kilogramme, the price fixed by the government.
Meanwhile, four sugar refiners are selling sugar at Tk 42 a kilogramme in the city's 11 important points since August 23. They are selling 55 tonnes of sugar a day in the city.