In response to public criticism, the Trading Corporation of Bangladesh (TCB) swiftly reverses its decision, opting to maintain the sugar price at Tk70 per kg, just a day after announcing an increase to Tk100 per kg ahead of Ramadan.
TCB spokesperson Humayun Kabir conveyed the decision in an audio message on Tuesday morning, highlighting the change from the initially proposed Tk100 to the existing Tk70 per kg.
Initially, on Wednesday, TCB had issued a press release announcing the new sugar price of Tk100, a substantial hike from last year’s Tk60 per kg.
As the country braces for Ramadan, TCB plans to initiate subsidized sales of essential goods from Thursday, including sugar, rice, edible oil, and lentils.
The surge in sugar prices is attributed to factors such as the rising value of the dollar, international market price hikes, and a decline in supply, leading to open market prices ranging between Tk140-150 per kg.
Despite challenges in supply, TCB is persisting with the subsidized sale, catering to 10 million beneficiary cardholder families. Last August, due to supply constraints, TCB refrained from sugar sales, and interruptions persisted in the past few months.
Explaining the rationale behind the fluctuating sugar prices, TCB’s spokesperson, Humayun Kabir, stated, “The market price of sugar is currently high. Therefore, TCB’s sugar price has been adjusted accordingly.”
Under the subsidized sale program, each cardholding family is entitled to purchase two liters of soybean oil, two kg of lentils, one kg of sugar, one kg of dates, and five kg of rice. Prices for these items are fixed at Tk100 per liter of oil, Tk60 per kg of lentils, Tk100 per kg of sugar, Tk150 per kg of dates, and Tk30 per kg of rice.
Buyers can avail these products from designated establishments or dealer shops, adhering to the scheduled dates and times outlined by TCB.
