CONSUMERS’ helplessness is growing day by day due to continuous rise in sugar price since last May. Sugar was selling after Eid-ul-Fitr at around Tk 40 per kg. Then it started to rise and sold upto Tk 48 per kg during the first week of this month. It sold at Tk 52 per kg on last Friday and then the price sharply rose from Tk 72 to Tk 80 per kg this week. There is no indication whether it will stop; nothing should be said about declining of sugar price. Not only sugar, prices of all kind of spices have also increased in wholesale and retail markets after Eid holidays blaming price hike in the global markets.
The traders also partly attributed the price hike to a rise in dollar prices against taka couple with reduction of sugar import, higher shipping charge and rising of preshipment inspection duty. So many reasons but nothing credible so far. They also said, illegal sugar import from India has decreased due to tight security in the border to control militant activities in the country, which is also a major reason for price hike of sugar. Moreover, due to various reasons importers are now in confusion whether to import sugar or not. But consumers believe these are routine cover for traders to rise the price and the situation will not improve unless the competent authorities of the government intervene without delay.
There is no doubt it is an artificial scarcity. It appears that our monthly domestic demand for sugar stands 50 to 60 thousand tonnes of which 90 percent is imported. The local sugar mills supplied 11,000 tonnes of sugar a day in the last month. So, there is no reason to say that due to lack of supply, sugar price is rising. In reality, a syndicate is controlling the sugar market. Before Eid it was said the market has more than sufficient amount of sugar in stock. So there is hardly any possibility of sugar shortage. It is not so that demand of sugar has shot up suddenly. It is also not that internal supply chain of sugar has disrupted. So, there is no genuine cause for abnormal price hike of sugar. The greed of dishonest businessmen may only be held responsible for it. Punishment to those dishonest people and strict vigilance by law enforcement agencies may bring the situation to normal level.
