Edible oil and sugar demand data inaccurate: Traders  | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Thursday
July 10, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
THURSDAY, JULY 10, 2025
Edible oil and sugar demand data inaccurate: Traders 

Bazaar

TBS Report
12 February, 2023, 01:35 pm
Last modified: 12 February, 2023, 11:04 pm

Related News

  • From dawn to dusk: The unsung heroes who keep the Ramadan spirit alive
  • Ramadan may extend to 30 days, Eid likely on Monday in Saudi Arabia
  • Ramadan relief for shoppers. Farmers pay the price? 
  • Sehri sales drops in restaurants this Ramadan
  • Remittance inflow shoots up by 79% to $2.25b in first 19 days of March

Edible oil and sugar demand data inaccurate: Traders 

They point out that edible oil demand in Ramadan has been stuck at 3 lakh tonnes for years despite consumer growth

TBS Report
12 February, 2023, 01:35 pm
Last modified: 12 February, 2023, 11:04 pm
Infographic: TBS
Infographic: TBS

Edible oil and sugar producers of the country have suggested a proper market analysis to determine correct demand data saying the current assessment for the two kitchen essentials are inaccurate.

Currently the monthly demand of both edible and sugar is estimated to be 1.5lakh tonnes, which doubles in the month of Ramadan while the traders say in reality the demands are much higher.    

At a meeting organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Sunday, they also assured that the supply of sugar and edible oil is sufficient to meet the demand in the ensuing month of Ramadan.

Producers of other essential commodities, wholesalers and retailers attended the meeting held to assess the prices, demands and supply of daily necessities ahead of the Ramadan.   

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Taslim Shahriar, senior assistant general manager of Meghna Group of Industries, said supply of sugar has seen no problem in the last four-five years.

"Now, the only problem is gas shortage, which is affecting production to meet the daily demand of 5,000-6,000 tonnes. As a result, the price of sugar has risen to the highest level in the last eight years," he said.

In this situation, he suggested that duties should be re-structured as importing raw sugar costs Tk65-70 per kg.

He also stressed that the sugar demand data analysis is very important.

Golam Mawla, president of Bangladesh Wholesale Edible Oil Traders Association, weighed in on the need for accurate data and said, "For the past 15-20 years, I have been hearing that the demand of oil in Ramadan is 3 lakh tonnes. All these years, the number of consumers have increased and so has the demand. So, it is necessary to assess the exact demand."

About the supply of edible oil, City Group Adviser Amitabh Chakraborty said, "We are trying our best to ensure that the supply of goods is not hindered in Ramadan amid the dollar crisis-induced LC opening restrictions."

Bangladesh Oil Mill Association President Biswajit Saha said, "We have handed to the government a list of items that need to be imported. The problem is the LC settlements are stuck. Ships are docked at the port with imported goods but the consignments cannot be released."

He called on the government to look into the matter.   

The FBCCI President Md Jasim Uddin asked the traders to remain aware so that no one can destabilize the market during Ramadan by creating an artificial crisis. Receipts (invoices) should be given for selling products at retail, wholesale market and warehouse levels to keep the price of products stable.

The apex trade body chief told businessmen that in a meeting with the central bank governor on 20 December, the FBCCI placed the demand of facilitating LC opening for the import of daily commodities during Ramadan.

He also said that a 46-member market monitoring committee is working on behalf of FBCCI to keep the market stable during Ramadan and check whether goods are sold at the prices, set by the government.

FBCCI Senior Vice-President Mostafa Azad Chowdhury Babu in his welcome speech urged the businessmen to come out of the culture of increasing prices of goods during major occasions.

Director General of the Directorate of National Consumer Rights Protection HM Safikuzzaman said, "It is necessary to keep sales receipts to stop abnormal price hikes of daily necessities."

Trading Corporation of Bangladesh (TCB) Chairman Brigadier General Md Ariful Hasan said, "If we have honest intentions, the market will not be destabilised. If it becomes unstable TCB has to enter the field and we do not want to enter the market."

Set wholesale and retail prices: Traders

Haji Abul Hashem, vice-president of Bangladesh Sugar Traders' Association, demanded that prices should be determined for wholesale and retail sale of sugar.

He added that the supply of sugar should increase to keep the market stable.

Traders said purchase from the mills with no invoices creates the scope for price manipulation and by the time the products reach consumers, the prices go up a lot.

Traders want permission to import refined sugar

Although some 18 lakh tonne sugar is produced in the country's refineries, traders have sought permission to import refined sugar from neighbouring countries considering the high demand of sugar during Ramadan.

Bashir Uddin, president of Moulvibazar Traders Association, said, "Sugar is sold at Tk45 per kg in India. Therefore, if the import of refined sugar is allowed on an urgent basis, it is possible to reduce the price of sugar by Tk70-80 before Ramadan. And if the duty on sugar import is reduced, the price will also come down."

Traders pointed out that currently there is about 61% duty in total on sugar import after 10% duty was recently reduced.

A further reduction in the duty will reduce the price and increase the supply of sugar, they said.

FBCCI President Jasim Uddin said, "61% duty on sugar is unacceptable. It should be reduced."

He assured that he will take the matter to higher quarters of the government.

Sirajul Islam of Bangladesh Fresh Fruits Importers Association said, although the delay in LC opening caused a setback in importing dates, they are expecting no shortage during the Ramadan.

"However, the price may go up slightly due to high import cost," he said.

Haji Md Majed, vice president of Shyambazar Agricultural Products Traders Association, said they expect the supply of onion, garlic, pulse and ginger to remain smooth.

CAB General Secretary Kazi Abdul Hannan demanded that a flexible tax for daily products should be introduced in the upcoming budget.

"War situations will cause prices to rise. When there is a single supply chain for a product, the supply of that product to the market will be affected. Therefore, creating multi-channel should be focused," he said.

Pointing out that 80% sugar is used commercially and 20% by general consumers, he said the two segments should be separated.

FBCCI Vice President Md Amin Helali, Habib Ullah Don, Director Md Anwar Sadat Sarkar, Md Rezaul Karim Reznu, CIP, and President of Bangladesh Shop Owners Association Md Helal Uddin were present in the meeting among others.

Economy / Markets / Top News

sugar price / Sugar Pricing / Sugar Demand / Ramadan

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Representational image. Photo: Collected
    35% tariff: Bangladesh, US 'agree on most issues' as first day of talks ends
  • File photo of containers at Chattogram port/TBS
    US buyers push Bangladeshi exporters to share extra tariff costs
  • Students sit for SSC exam at Motijheel Girls' High School on 10 April 2025. Photo: Mehedi Hasan/TBS
    SSC exam results out at 2pm today: Here's how you can check

MOST VIEWED

  • File Photo: Rajib Dhar/TBS
    Bangladesh faces economic impact as US introduces 35% tariff on exports
  • None saw it coming: What went wrong in Bangladesh’s tariff negotiation with US 
    None saw it coming: What went wrong in Bangladesh’s tariff negotiation with US 
  • Clashes took place between police and protesters in Sylhet on 2 August. Photo: TBS
    Hasina authorised deadly crackdown on protesters during 2024 July uprising, BBC verifies leaked audio
  • Bangladesh Bank Governor Ahsan H Mansur. TBS Sketch
    BB governor asks banks to create forced loans for unpaid import LCs
  • Representational image. Photo: TBS
    35% US tariff to be disastrous for Bangladesh's exports, say economists and exporters
  • Trump's 35% tariff zaps Bangladesh's $8.4 billion export lifeline
    Trump's 35% tariff zaps Bangladesh's $8.4 billion export lifeline

Related News

  • From dawn to dusk: The unsung heroes who keep the Ramadan spirit alive
  • Ramadan may extend to 30 days, Eid likely on Monday in Saudi Arabia
  • Ramadan relief for shoppers. Farmers pay the price? 
  • Sehri sales drops in restaurants this Ramadan
  • Remittance inflow shoots up by 79% to $2.25b in first 19 days of March

Features

Women are forced to fish in saline waters every day, risking their health to provide for their families. Photo: TBS

How Mongla’s women are bearing the brunt of rising salinity

13h | Panorama
Dr Mostafa Abid Khan. Sketch: TBS

Actual impact will depend on how US retailers respond: Mostafa Abid Khan

1d | Economy
Thousands gather to form Bangla Blockade in mass show of support. Photo: TBS

Rebranding rebellion: Why ‘Bangla Blockade’ struck a chord

2d | Panorama
The Mitsubishi Xpander is built with families in mind, ready to handle the daily carpool, grocery runs, weekend getaways, and everything in between. PHOTO: Akif Hamid

Now made-in-Bangladesh: 2025 Mitsubishi Xpander

3d | Wheels

More Videos from TBS

Leaked audio: Jinping thought Trump was crazy

Leaked audio: Jinping thought Trump was crazy

10h | TBS World
What can be done to counter the impact of US tariffs?

What can be done to counter the impact of US tariffs?

11h | Podcast
Elections can be held before Ramadan if preparations are complete: Press Secretary

Elections can be held before Ramadan if preparations are complete: Press Secretary

12h | TBS Today
What Elon Musk Gets Wrong About Our Broken Political System

What Elon Musk Gets Wrong About Our Broken Political System

1h | Others
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net