Consumers’ association condemns sudden sugar, LPG price hikes

The Consumers Association of Bangladesh (CAB) condemned sudden sugar and liquefied petroleum gas price hikes, blaming artificial shortages and market syndicates for the surge, and urged immediate government action to protect consumers.

Recently, an abnormal and continuous increase in the prices of sugar, LPG, and edible oil in the domestic market has created extreme frustration, anxiety, and anger among general consumers, the association said in a press release today.

Reports published in various media indicate that an influential group has been creating an artificial crisis at the import, mill-level production, and supply stages, controlling supply and forming syndicates to destabilise the sugar market, it said.

At the same time, prices of LPG, soybean oil, and palm oil are being increased unreasonably, directly affecting the daily expenses of ordinary people, it added.

Although sugar prices were relatively stable just a week ago, they have suddenly increased in the wholesale market, while in the retail market the price of sugar has risen by Tk 10 per kilogramme, it said.

Following the annual practice of tactically increasing sugar prices ahead of Ramadan, traders have resorted to such manipulation, it mentioned in the press release.

On the other hand, prices of soybean oil and palm oil have recently increased by Tk 5 to Tk 10 per litre.

Moreover, there is no reasonable justification for the increase in LPG prices. Using the excuse of increased demand, some unscrupulous traders are charging far higher than the rates set by the government, it said in the press release.

In this case, there may be manipulation by importers and their distributors.

Since the Bangladesh Energy Regulatory Commission only sets prices and stops there, traders ignore the government-fixed rates and charge as they wish.

This has seemingly become a routine practice, it said.

CAB believes that, taking advantage of administrative busyness ahead of Ramadan and other upcoming occasions, dishonest traders and syndicates are deliberately manipulating the sugar and edible oil markets.