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Bangladesh - Corporate - October 6, 2022

Sugar prices hiked, palm oil fall

Staff Correspondent: The Ministry of Commerce has set the price of sugar and palm oil. The price of sugar has been increased by Tk 6 and fixed at Tk 90 per kg for open sugar and Tk 95 for packaged sugar. Palm oil has been reduced by Tk 8 per liter and fixed at Tk 125 — which was earlier sold at Tk 133 per liter.
Tapan Kanti Ghosh, senior secretary of the Ministry of Commerce, told reporters after a meeting at the Secretariat in the capital yesterday afternoon.
The senior secretary said the price of sugar and palm oil has been “re-fixed”. The concerned association will publish a notification in the afternoon.
Regarding the increase in the price of sugar, Tapan Kanti Ghosh said, “Earlier, we did not charge the price in dollars fixed by Bangladesh Bank. At present, if the dollar price is at the rate of Tk 105, the price of sugar should be higher. That is why Tk 6 per kg has been increased. Soybean oil has already been reduced by Tk 14 per liter.”
He said that in yesterday’s meeting it was decided that the high-price oil in the market should be sold at the previous price. Now the oil that will go to the market, it will be sold at a lower price of Tk 14 per liter.

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