TCB to buy 1000 tonnes of sugar
Thursday, 3 September 2009
FE Report
The Trading Corporation of Bangladesh (TCB) will buy one thousand tonnes of sugar at Tk 39,000 per tonne from the local sugar refiners' association.
TCB dealers will disburse the sugar at a fair price in a day or two in different parts of the city to ease the pressure on the people's purse in the month of Ramadan.
Recently the price of sugar reached as high as Tk 50 per kg in the market making the consumers helpless to the unscrupulous traders even during the holy month.
Two hundred dealers of the TCB will get a maximum of five tonnes each everyday for the rest of Ramadan, leaders of sugar refinery said.
The decision was taken in a meeting with the Commerce Minister Faruq Khan and the leaders of Bangladesh Sugar Refiners' Association (BSRA) Tuesday.
The refiners were committed to sell sugar at Tk 39 per kg at mills gate and the price should not exceed Tk 42 at the retail level, claimed the refinery leaders.
The refiners are selling at the fixed rate but traders are manipulating the price, they alleged.
The government will monitor the market and find out who are responsible for price manipulation, TCB officials said.
Commerce Secretary Firoz Ahmed, Commerce Ministry Additional Secretary Mostafa Mohiuddin, Join Secretary Abul Hossain, Meghna Group's Chairman Golam Mustafa, Abdul Monem Ltd Deputy Managing Director ASM Mohiuddin Monem, City Group General Manager Bishwajit Saha, among others, were present in the meeting.
The 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.
However, at present sugar is being sold between Tk 46 and Tk 48 per kg at the retail outlet.
End/Munni
The Trading Corporation of Bangladesh (TCB) will buy one thousand tonnes of sugar at Tk 39,000 per tonne from the local sugar refiners' association.
TCB dealers will disburse the sugar at a fair price in a day or two in different parts of the city to ease the pressure on the people's purse in the month of Ramadan.
Recently the price of sugar reached as high as Tk 50 per kg in the market making the consumers helpless to the unscrupulous traders even during the holy month.
Two hundred dealers of the TCB will get a maximum of five tonnes each everyday for the rest of Ramadan, leaders of sugar refinery said.
The decision was taken in a meeting with the Commerce Minister Faruq Khan and the leaders of Bangladesh Sugar Refiners' Association (BSRA) Tuesday.
The refiners were committed to sell sugar at Tk 39 per kg at mills gate and the price should not exceed Tk 42 at the retail level, claimed the refinery leaders.
The refiners are selling at the fixed rate but traders are manipulating the price, they alleged.
The government will monitor the market and find out who are responsible for price manipulation, TCB officials said.
Commerce Secretary Firoz Ahmed, Commerce Ministry Additional Secretary Mostafa Mohiuddin, Join Secretary Abul Hossain, Meghna Group's Chairman Golam Mustafa, Abdul Monem Ltd Deputy Managing Director ASM Mohiuddin Monem, City Group General Manager Bishwajit Saha, among others, were present in the meeting.
The 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.
However, at present sugar is being sold between Tk 46 and Tk 48 per kg at the retail outlet.
End/Munni