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Sugar is coming illegally, the legal import has decreased

by endroar
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Meanwhile, the government has reduced the import duty on raw sugar at the beginning of Ramadan to keep the price of sugar affordable. At that time, customs duty was reduced by one rupee per kg of sugar. According to the data of the National Board of Revenue, currently the total duty on import of raw sugar is Rs 40 to 41 per kg. This high rate of duty is imposed on sugar imports to protect the local industry. But locally produced sugar accounts for only 1 percent of the total demand. 20 to 22 lakh tons of sugar is imported into the country annually. Only 30 thousand tons are produced annually in the country.

The country's sugar market is almost entirely dependent on imports. Only five companies—CT, Meghna, S Alam, Deshbandhu and Abdul Monem—import raw sugar.

Meanwhile, Bangladesh Sugar Refiners Association has written to the Governor of Bangladesh Bank to increase the single customer credit limit of the bank to increase the import of sugar. According to the letter, import of raw sugar is hampered due to dollar-crisis.

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