‘Some Dhaka-based traders trying to hike sugar prices’

Chittagong traders alleged that a group of Dhaka-based traders are acting as a syndicate to increase the prices of sugar ahead of Ramadan. They raised the allegation at a views exchange meeting at the Chittagong Deputy Commissioner’s conference room on Thursday. They also alleged that the Dhaka-based group were plotting to “paralyse” the Chaktai-Khatungaj trade hub. The Chittagong District Administration organised the meeting with stakeholders on how to keep prices of essentials in check during the month of Ramadan. The Ramadan is going to start late this month. The meeting attended by trade body leaders and consumer rights activists also fixed the prices of chickpea and sugar ahead of Ramadan. As per the decision of the meeting, chickpea with wholesale price between Tk72-Tk75 a kg must be sold at Tk80 per kg. Good quality chickpea can be sold at Tk85. On the other hand, the price of sugar has been fixed at Tk63 per kg. Addressing the meeting, Mahbubul Alam, president of Chittagong Chamber of Commerce and Industry (CCCI), said: “The traders based in Dhaka control 80% of the sugar production and import of the country.” “The syndicate is also involved with hiking the price of sugar through creating artificial crisis,” he said. Abul Bashar Chowdhury, proprietor of BSM Group, said: “The importers like us have nothing to do. We have to pay off in dollars. The price of commodities naturally spirals with the hike in dollar price.”