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Unstable sugar market again

by Afonso
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Ignoring the government’s decision, traders have increased the price of sugar again. Packed sugar is being sold at Tk 148 per kg. Which is 13 rupees more than the price set by the government. But there is no supervision in the market. As a result, consumers have to buy sugar at a higher price.

Traders proposed to increase the price of sugar on November 6, but the government did not respond. Still, companies are selling packaged sugar at high prices.

A packet of sugar is being sold at Tk 148 per kg in the capital. But the price set by the government is 135 rupees. Although open sugar is fixed at Tk 130, it is being sold at Tk 140 to Tk 145.

Humayun, a resident of Sabuj Bagh area of ​​the capital, said, ‘When I came to the market, I saw that the price of sugar has increased. I bought it at the rate of 148 taka per kg.

The high value of the dollar has been put up as an excuse by the businessmen. So they fixed the price themselves to avoid losses.

Chief Marketing Officer of Igloo Sugar. Moniruzzaman said, ‘The price of the dollar is high. If the government sells at the fixed price, we lose.’

CAB urged to increase market surveillance to stop sugar market manipulation.

SM Nazir Hossain, Vice President of CAB, said, ‘Regular market supervision is needed so that the traders do not increase the prices by manipulation.’

Earlier, sugar prices were manipulated in July as well. The Consumer Affairs Department’s raids revealed that some of the companies that import sugar are jacking up the prices.



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