Sugar price declines in city after market monitoring
Wednesday, 13 June 2007
FE Report
The retail price of sugar declined in the city markets due to intense market monitoring by different government agencies.
A kg of sugar was sold at Tk 29 Tuesday compared to Tk 31-Tk 33 of just Monday last in the city markets as the traders have been compelled to lower the price following intense monitoring.
Market sources said the price of sugar suddenly increased just after announcement of the national budget Thursday and ranged between Tk 31 and Tk 33 over the last few days until Monday.
They said the intense monitoring by the government agencies, specially the Bangladesh Rifles (BDR), helped lower the price of sugar to Tk 29 per kg in the city markets.
The prompt interference by the BDR played a vital role in curbing the price, otherwise it was tough to lower the price of sugar, a trader said recollecting his past experience.
When asked, a wholesaler said there is no reason of the price hike of sugar in the country as there is a huge stock of the commodity.
There is even no leeway for creating an artificial crisis as far as supply and market demand are concerned, he added.
The retail price of sugar declined in the city markets due to intense market monitoring by different government agencies.
A kg of sugar was sold at Tk 29 Tuesday compared to Tk 31-Tk 33 of just Monday last in the city markets as the traders have been compelled to lower the price following intense monitoring.
Market sources said the price of sugar suddenly increased just after announcement of the national budget Thursday and ranged between Tk 31 and Tk 33 over the last few days until Monday.
They said the intense monitoring by the government agencies, specially the Bangladesh Rifles (BDR), helped lower the price of sugar to Tk 29 per kg in the city markets.
The prompt interference by the BDR played a vital role in curbing the price, otherwise it was tough to lower the price of sugar, a trader said recollecting his past experience.
When asked, a wholesaler said there is no reason of the price hike of sugar in the country as there is a huge stock of the commodity.
There is even no leeway for creating an artificial crisis as far as supply and market demand are concerned, he added.