Sugar prices have gone up in most of the kitchen markets in the port city because of a supply crunch in the Khatunganj wholesale market.

Price of sugar increased by Tk 3 to Tk 5 a kg to Tk 66-68 a kg in the retail markets in the last three days, which was Tk 62-63 on Wednesday. Retailers have blamed a shortage of supply from the dealers in the Khatunganj wholesale hub for the increase in the price of the sweetener.

Retailers alleged that a sudden supply crunch was created in Khatunganj just ahead of Ramadan as dealers of refined sugar sold only a small quantity of the item. Millers sold the sweetener at Tk 2,150 a maund (37.32kg) to some 35 dealers based in Khatunganj. The dealers sold the item at Tk 2,180 a maund to wholesalers and retailers.

A significant number of retailers from different kitchen markets showed up at the dealers' shops last week to purchase sugar in bulk. But they found that the dealers have cut down the amount to be sold.

Najmul Haque, a retailer at Karnaphuli CDA Market, who usually purchases 15 to 20 sacks of sugar from dealers, said the dealers have suddenly announced that they would sell the item only to those who could show their trade licence.

Retailers, who stood in the long queue, could collect only 5 to 10 sacks, said Haque, adding that seeing such a long line on Saturday he bought sugar from wholesalers at Tk 2,350 per maund. “Now we are compelled to sell it at higher prices since the wholesale rate was Tk 63.45 a kg,” he said.

Contacted, Syed Sagir Ahmed, general secretary of the Khatunganj Trade and Industries Association and a dealer of S Alam's refined sugar, said the price of sugar in Dhaka markets is much higher than that of Chittagong. The wholesale price in Dhaka is Tk 2,400 a maund due to an inadequate supply by Dhaka-based millers. 

Ahmed suspected that some traders are selling sugar to Dhaka markets after purchasing from Chittagong to make some quick bucks, prompting the dealers to sell only small quantity of the item. He, however, said, in the last two days they appointed 40 to 50 more dealers in the kitchen markets and at some points in the city to boost the supply.

Ahmed said the crisis would go in a day or two and the price would also come down. Emon Traders, one of the two dealers based in Karnaphuli CDA Market, bought 16 tonnes of sugar from dealers in Khatunganj on Saturday.

The firm is selling the item at Tk 2,180 a maund to retailers, according to its manager. The demand for sugar normally goes up during Ramadan.



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