Bangladesh raises sugar prices by Tk 6 a kg, lowers palm oil by Tk 8 per litre

The prices are readjusted in an apparent move to catch up with the market

The commerce ministry has increased sugar prices by Tk 6 per kg and lowered super palm oil by Tk 8 a litre, in an apparent move to catch up with the market.

Refined but loose sugar will be sold at Tk 90 a kg in the retail markets while the price of packaged sugar will be Tk 95, Commerce Secretary Tapan Kanti Ghosh said after a meeting at the ministry on Thursday.

Retailers, however, have been selling loose sugar at Tk 90 and packaged sugar at Tk 95 although the government set the prices at Tk 84 and Tk 89.

Super palm oil prices have been fixed at Tk 125 per litre, although the product has been being sold at Tk 118 to Tk 125.

Tapan said they changed the prices in line with the dollar prices fixed by Bangladesh Bank. The ministry did not consider the dollar prices fixed by the central bank earlier while readjusting prices, he said.