Sugar price hiked by Tk 6, palm oil slashed by Tk 8

The government has hiked the price of sugar by Tk 6 per kilogramme and cut the price of palm oil by Tk 8.

The new price will come into effect immediately, said Senior Commerce Secretary Tapan Kanti Ghosh.

With this, one kilogramme of packaged sugar will cost Tk 95 and lose one at Tk 90 from the previous Tk 89 and Tk 90 respectively. A litre of palm oil will be sold at Tk 125 from Tk 133.

The commerce ministry reduced the price of palm oil following negotiations with businessmen and the leaders of Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association.

The secretary said the price of sugar has increased due to the widening gap between the US dollar and the local currency.

Secretary also said the Bangladesh Vegetable Oil Refiners and Vanaspati Manufacturers Association will announce the new prices of palm oil in a notification later on the day.