The specific duty would be Tk 4,500 a tonne
The NBR expects that sugar prices will decrease in proportion to the duty reduction, and it hopes this measure will also discourage sugar smuggling.
From March 7, TCB will sell sugar at Tk 100 a kg
Senior Commerce Secretary Tapan Kanti Ghosh says
Loose sugar will be Tk 120 a kg, packaged sugar Tk 125
Indian mills produced 31.1 million tonnes of sugar since the current season began on October 1, a fall of 5.4 per cent year on year, as many mills closed early due to limited availability of sugar cane, a leading trade body said on Tuesday.
Sugar prices have reached a record high internationally, which has had a ripple effect on Bangladesh’s wholesale markets, including those in Dhaka and Chattogram.
From April 8, loose sugar will be Tk 104 per kg, packaged Tk 109
The commerce ministry yesterday asked millers and refiners to reduce sugar price by Tk 5 per kilogramme at the retail level three weeks after the revenue authority reduced import duty for raw and refined sugar in a bid to bring down the prices of the sweetener.
Sugar prices edged up in the wholesale market of Bangladesh within days after refiners declared that they would sell the sweetener at higher prices from the first day of February.
Bangladesh economy was all set at the beginning of 2022 to get its growth momentum back after recovering from the prolonged Covid-19 pandemic. But, the start of the Ukraine war in February slowed the country’s joy run significantly, making it an eventful year to remember. Let’s see how 2022 was for Bangladesh.
Sugar has become dearer with prices going up by Tk 15 a kg at retail markets as millers cut supplies blaming insufficient gas flow at refineries.
The sugar market will return to normalcy in a day or two, said AHM Shafiquzzaman, director general of the Directorate of National Consumers Right Protection (DNCRP), today.
The government today reduced the palm oil (super) price by Tk 8 per litre and raised the sugar price by Tk 6 per kg.
India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices and could cap this season's exports at 8 million tonnes, government and industry sources told Reuters.
The sugar price should not cross Tk 60 per kilogramme as there is a steady supply in the country, Commerce Minister Tofail Ahmed says.
The proposed additional customs duty on sugar import will be withdrawn says the Finance Minister AMA Muhith