Commerce Minister Tipu Munshi said traders have agreed to reduce the prices of sugar by Tk 5 per kg after the reduction in import duty on both raw and refined sugar last month. “As the import duty has been slashed, the prices of sugar can be reduced by Tk 4.5. However, we have requested the traders to reduce it by Tk 5 per kg and they agreed,” he told reporters a  press briefing after the 6th meeting of the task force committee on  commodity prices and market situation at the secretariat on Sunday. The minister hoped that the price of sugar would come down by Tk 5 per kg within the first week of Ramadan.  Also Read: Have enough stock, no scope of price hike during Ramadan: Tipu “We will start monitoring from tomorrow. Currently, we’re assessing the impact of import duty reduction on sugar.” He assured that traders have enough stocks of oil and sugar.      

Sugar production will rise and prices come down soon as necessary measures, including increasing gas supply, have been taken,  said Commerce Minister Tipu Munshi on Thursday. Sugar production has decreased slightly due to low pressure in gas supply, said the minister at a meeting of the taskforce on reviewing commodity prices and market condition at the Secretariat. Read more:Govt allowing import of 1 lakh tons of sugar to keep price stable “However, there is sufficient sugar in our stock,” he added. The government has taken all kinds of steps to keep the supply of essential commodities stable, Tipu said, adding there no risk of commodity crisis currently in the country. “Five crore low-income people of the country are being provided with oil, lentils, and sugar every month at affordable prices through one crore cards at the instruction of Prime Minister Sheikh Hasina, said the minister adding, a large number of the people of the country are benefiting from this. Read more: Wheat being imported from Canada, market to be stable soon: Tipu Munshi Strict monitoring is continuing to keep the supply, stock and prices of the country's daily necessities stable, he added.