Sugar prices slump in Ctg wholesale markets
Sugar prices started dropping yesterday in the wholesale markets of Khatunganj in the port city following supply from an importer.
A few wholesalers in Khatunganj started selling sugar at Tk 64 per kg after BSM Group, a leading refined sugar importer, began supply at Tk 63 a kg since Saturday night.
Md Alamgir Faruk, manager of wholesale firm GM Traders, said they bought sugar from BSM Group at Tk 63 per kg Saturday night and sold it to retailers at Tk 64 yesterday.
Retail prices, however, show slight slump as many retailers were still charging more than Tk 65 for a kg of sugar, claiming that their early purchase rate was high.
Some retailers selling sugar at government fixed rate of Tk 65 after buying it at new wholesale rates said they were incurring loss but bound to sell at that price fearing harassment by the administration.
Pradip Kumar Chowdhury, manager of Khan Departmental Store, said they bought sugar at Tk 64 from two wholesalers of Khatunganj. Their purchase rate, transport, labour, and other charges included, stood at about Tk 66, but they were selling at Tk 65, he added.
Saju Department Store, another retailer in the same market, was seen charging Tk 70 for a kg of sugar. The shop staffers said they bought the item earlier at higher rates. Retailers in Karnaphuli CDA Market were also found selling sugar at Tk 68-70.
Meanwhile BSM Group decided to supply sugar at Tk 62 to few more wholesalers following a meeting of Khatunganj Trade and Industries Association yesterday.
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