In response to mounting global challenges, the Trading Corporation of Bangladesh (TCB) has implemented a significant price hike, raising the cost of sugar by Tk30 per kg to a new high of Tk100.
The TCB officially announced this adjustment in sugar prices through a press release issued on Wednesday. As a result, the 10 million TCB cardholder families will now see a spike in sugar prices from the previous Tk70 per kg to the new Tk100 per kg rate.
Last year, the sugar price stood at Tk60 per kg, highlighting the rapid escalation in recent times. The surge is attributed to the soaring value of the dollar, increased international market prices, and diminished sugar supply.
As the month of Ramadan approaches, the TCB is set to initiate the subsidized sale of essential goods, including sugar, rice, edible oil, and lentils, among cardholder families nationwide starting Thursday. Sugar prices in the open market currently range between Tk140-150 per kg.
TCB spokesperson Humayun Kabir explained the rationale behind the price adjustment, stating, “The market price of sugar is currently high. Therefore, TCB’s sugar price has been adjusted accordingly.”
Under the ongoing subsidy 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. The subsidized prices include Tk100 per liter for oil, Tk60 per kg for lentils, Tk100 per kg for sugar, Tk150 per kg for dates, and Tk30 per kg for rice.
These subsidized products will be available for purchase from the permanent establishments or shops of authorized dealers. Buyers can acquire these essential items on scheduled dates and times specified by the dealers, ensuring accessibility during the crucial month of Ramadan.