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Palm oil, sugar prices fixed by govt

The Ministry of Commerce on Thursday (Sept 22) fixed the millgate, dealer and maximum retail prices of loose palm oil and refined and packaged loose sugar as per the recommendations of the Bangladesh Trade and Tariff Commission (BTTC).

A circular signed by Commerce Ministry’s deputy secretary Khandker Nurul Huque, on Thursday (Sept 22) said the new prices would be effective from Sunday (September 25).

The ministry fixed the prices of the loose palm oil at Tk 133 per litre, refined loose sugar Tk 84 per kg and refined packaged sugar Tk 89 per kg. It means that loose palm oil price has been reduced by Tk 12 per litre while sugar by Tk 6 per kg.

Besides, the mill-gate and distributor level prices of these products were fixed. Loose palm oil’s mill-gate price was fixed at Tk 128 per litre and distributor level price Tk 130 per litre, while refined sugar’s mill-gate price was fixed at Tk 79 per kg and distributor level price at Tk 81 per kg, and refined packaged sugar’s mill-gate price was fixed at Tk 82 per kg and distributor level price at Tk 84 per kg.

Earlier, the BTTC recommended setting the price of palm oil at Tk 133 per litre taking the price situation of the world market and import cost into consideration.

It may be mentioned that Commerce Minister Tipu Munshi on Friday last (Sept 16) said the government would fixed the prices of essentials within seven days.

On August 30 last, the Ministry of Commerce said that decision was taken to fix the prices of rice, atta, flour, edible oils, sugar, pulses, MS rod and cement.

Later on September 17, he said the Ministry of Commerce had no jurisdiction to fix the prices of any essential items except edible oils and sugar. However, decision would be taken in consultation with the Ministry of Agriculture to fix the prices of rice, atta, pulse and egg.