Sugar at Tk 42 per kg from Thursday
Wednesday, 2 September 2009
FE Report
Refiners agreed Tuesday to sell sugar to TCB dealers at Tk 39 per kg from tomorrow to ease the pressure on people's purse in the month of Ramadan.
The price of the commodity is as high as Tk 50 per kg in the market sending a shockwave to the helpless consumers to brace for more to come from the unscrupulous traders during the holy month.
Two hundred dealers of the Trading Corporation of Bangladesh (TCB) will get a maximum of 5 tonnes each everyday for the whole month of Ramadan, said ASM Mohiuddin Monem, deputy managing director of Abdul Monem Sugar Refinery on Tuesday after a meeting with Commerce Minister Faruk Khan.
The refiners met the commerce minister at an emergency meeting as the sugar price shot up to Tk 50 per kg.
"We are committed to sell sugar at Tk 39 per kg at mills gate and the price should not exceed Tk 42 at the retail level," he said.
The refiners are selling at the fixed rate but traders manipulate the price, he claimed. The refiners urged the government to monitor the market and find out who are responsible for price manipulation, he added.
"The deliver order (DO) will be issued by the TCB and it will expire within three days after the issuance," Mr Monem said.
City Group, Meghna Group, Abdul Monem and Deshbandhu refiners sell 4,400 tonnes of sugar everyday.
Sugar price increased by Tk 6 per kg in one week and Tk 10 in one month, despite government efforts to stop the price hike.
Refiners agreed Tuesday to sell sugar to TCB dealers at Tk 39 per kg from tomorrow to ease the pressure on people's purse in the month of Ramadan.
The price of the commodity is as high as Tk 50 per kg in the market sending a shockwave to the helpless consumers to brace for more to come from the unscrupulous traders during the holy month.
Two hundred dealers of the Trading Corporation of Bangladesh (TCB) will get a maximum of 5 tonnes each everyday for the whole month of Ramadan, said ASM Mohiuddin Monem, deputy managing director of Abdul Monem Sugar Refinery on Tuesday after a meeting with Commerce Minister Faruk Khan.
The refiners met the commerce minister at an emergency meeting as the sugar price shot up to Tk 50 per kg.
"We are committed to sell sugar at Tk 39 per kg at mills gate and the price should not exceed Tk 42 at the retail level," he said.
The refiners are selling at the fixed rate but traders manipulate the price, he claimed. The refiners urged the government to monitor the market and find out who are responsible for price manipulation, he added.
"The deliver order (DO) will be issued by the TCB and it will expire within three days after the issuance," Mr Monem said.
City Group, Meghna Group, Abdul Monem and Deshbandhu refiners sell 4,400 tonnes of sugar everyday.
Sugar price increased by Tk 6 per kg in one week and Tk 10 in one month, despite government efforts to stop the price hike.