Located in Asia, Bangladesh is having a hard time making ends meet. The Russia-Ukraine war followed by heavy rains and floods have raised several troubles for the Asian nation and this has fueled up prices of agro-commodities in the domestic markets.
The high prices of agro-commodities in the market is pinching the pockets of commoners and to lessen their sufferings, the country has been actively importing agro-commodities off-late.
Sugar is one of the many items imported actively by the government of Bangladesh and this time as well the cabinet committee of the Bangladesh government has granted the state run agency, the Trading Corporation of Bangladesh (TCB), the permission to import 12,500 tonnes of refined sugar.
Statements By The Official
Mr. Sayeed Mahbub Khan, additional secretary of the cabinet division, informed the press after the meeting that the cabinet committee of the government has given the approval to the state run agency, the Trading Corporation of Bangladesh (TCB) to import 12,500 tonnes of refined sugar from Virginia based company, Accenture Technology for a total sum of Tk 66.27 crore. He also went on to say that the refined sugar was bought under international open tender and each kilogram is costing the Bangladesh government TK 82.85.
The cabinet’s nod for the import of refined sugar have been greeted and welcomed heartily by the sugar importers and domestic consumers of the country. They are hopeful that with the entry of imported sugar in the domestic markets of Bangladesh, the prices of the sweetener will cool, bringing in much needed relief.
The Bottom Line
The series of events since the start of 2022 has hampered the domestic production of Bangladesh significantly and as a result, the country relies heavily on agro-imports to meet the needs of the people of the country. With a view to calm down prices and ensure adequate supplies in the domestic markets, the Bangladesh government has been actively importing agro-commodities off late and sugar is one of the most-imported items in the list.
This time as well, the cabinet committee of the government of Bangladesh has given the state agency, the Trading Corporation of Bangladesh (TCB), the permission to import 12,500 tonnes of refined sugar and this has brought cheers on the face of sugar importers and consumers of the country.
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