Bangladesh sugar refiners have agreed to fix the price of refined sugar at 39 taka ($0.57) per kg at the mill-gate following a meeting with government, officials said on Monday. The agreement came two days after the government had withdrawn an import duty on raw sugar to keep prices stable during the Muslim fasting month of Ramadan, which begins in Bangladesh from August 23.
The refiners and distributors have also agreed to fix wholesale and retail prices at 40 taka and 42 taka per kg respectively. "We fixed the prices in a meeting with Commerce Minister Faruk Khan late on Sunday," an official of the Bangladesh Sugar Refiners' Association said. The government on Saturday also reduced duty on imported refined sugar to 3,000 taka ($43.5) from 7,000 taka ($101.5) per tonne.
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