City Group to sell Tk 95 a kg sugar from tomorrow through trucks

Leading consumer goods processor City Group today announced that it will start selling Teer branded packaged sugar at Tk 95 a kilogramme from tomorrow in the capital.

Initially the group will send trucks to five important locations in Dhaka city, which are Mohammadpur's Town Hall Bazar, Kawran Bazar, Bangladesh Bank, Mirpur 1 and Azimpur, Biswajit Saha, director for corporate and regulatory affairs at City Group, told The Daily Star.

Each of the trucks will contain 7,000 to 8,000 kgs of sugar, he said.

The trucks will stay at the locations from 10 am to 5 pm, Saha added.

"We are doing it to stabilise sugar's price in the market."

The City Group took the initiative at a time when the country is suffering from a sugar crisis.

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Supply crunch fuels sugar price

The supply of loose sugar is declining and the packaged variety is also not available everywhere, according to the retailers and wholesalers in several areas of Dhaka.

According to the traders of Khatunganj-Chaktai wholesale market in Chattogram, sugar is now sold at Tk 3,480 to Tk 3,500 a maund, which was Tk 3,000-3,050 a month ago.

Sugar prices have increased by 19.5 per cent in the past one year, according to the Trading Corporation of Bangladesh.