The government halved the import duty on sugar earlier this month to control the market. After the cut in wholesale and retail duty, instead of falling, the prices went up instead. Over the past two days, per person at wholesale (37.237 kg) The price of sugar has decreased by Tk 100 but it is increasing in the retail market.
Wholesalers say, The market is not affected by the rise in the value of the dollar even though the government has reduced tariffs. But consumers say, There is no administrative supervision in the sugar market. As a result, traders increase the price as they wish after a few days. Khatunganj’s wholesale market was investigated yesterday, Sugar is being sold at 4 thousand 850 taka per maund in wholesale. It is being sold for 4 thousand 950 taka two days ago. On the other hand, it was found out from the retail market of Kazi Deuri, Currently sugar is being sold at 150 rupees per kg. It was sold for Rs. 140 a week ago. Khatunganj wholesaler said, In Khatunganj market, there are some practices in selling and trading products for ages. There are many customs of self-benefit which are not even legally recognized. One of these is the delivery order (D.O) slip’. Various forward transactions are done through DO trading in buying and selling of sugar or any other commodity. can be seen, Even if the product is not received, the same slip is being sold. A company buys a certain amount of product DO from the market. The rate at which DO is purchased, If its market price increases, Then they hesitate to deliver the product. seen again, The company’s products did not arrive but DO bought a lot. As a result, the company cannot deliver products to the market. As a result, the prices of these products are not under control. In this case, the DO sale of sugar is more. General Secretary of Chaktai Khatunganj Artaddar General Traders Welfare Association. Mohiuddin told Daily Azadi, There is a shortage of sugar in the market. Demand has increased again. So the price is also increasing.
Note that, Last November 1 National Board of Revenue (NBR) The import duty of raw sugar has been reduced to Tk 1,500 per tonne. Earlier it was 3 thousand taka. The import duty of refined sugar was Rs 6,000 per tonne, That has also been reduced to 3 thousand rupees. It has been said that this duty will remain in force till March 31 next year. According to NBR data, Currently sugar importers are subject to 15 percent VAT, In addition to 30 percent regulatory and 2 percent advance income tax, a fixed duty of Tk 3,000 per ton of sugar has to be paid. It has been reduced to 1 thousand 500 taka.
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