Ensure reasonable sugar price

18 October 2012, 18:00 PM

Mohammad Ashraf Hossain, Ramna, Dhaka

We have observed that when a commodity price increases in the international market, instantly the price increases in the local market. But the same does not happen in case of price decrease in the international market. A few months back, the price of raw sugar in the international market was more or less USD 830 for each metric ton. The price has come down to less than USD 540 in the month of August. The sugar refineries in Bangladesh got the raw sugar at a lower price in September. But the consumers are not getting the benefit of lower price in the international market as yet. Is it not a sign of informal syndication of sugar refiners? The consumers have to buy sugar at the price level of July '12. The retail price should have been Tk 41 or Tk 42 for each kg. I would like to draw the attention of commerce and industry ministries to safeguard the interest of the sugar consumers.