A file photo shows sugar along with other commodities at a shop in Dhaka. The government on Thursday set the maximum retail prices of sugar at Tk 75 a kilogram amid a continuing surge in the prices of the essential commodity. — New Age photo

The government on Thursday set the maximum retail prices of sugar at Tk 75 a kilogram amid a continuing surge in the prices of the essential commodity.

Sugar had retailed at up to Tk 85 a kg in the city markets for the last two weeks.

The commerce ministry has set the prices of sugar for the first time following a meeting between the commerce ministry and the leaders of the Bangladesh Sugar Refiners Association at the Bangladesh Secretariat in the capital.

The commerce ministry has started setting the prices of edible oil since February considering the price hike of the item on the international market.

Ministry officials said that they would also set the prices of red lentil soon to control the price hike of the item on the local market.

They said that the Bangladesh Trade and Tariff Commission had been assessing the price situation of imported essential commodities, including edible oil, sugar and red lentils.

The prices of the essentials would be set in line with the international prices and the commerce ministry would monitor the market to prevent profiteering, they said.

The Bangladesh Sugar Refiners Association in a press release said considering the international market prices and the production cost of local refiners, the retail price of unpackaged refined sugar has been set at Tk 74 a kg and packaged sugar at Tk 75 a kg.

The prices of sugar increased by Tk 15-20 a kg in the last one month in the capital.

Imported unpackaged refined sugar retailed at Tk 80 a kg while packaged sugar sold for Tk 85 a kg on Thursday in the city.

Traders also raised the prices of red lentils by Tk 15-20 a kg in the city markets in the last one month, showing the price hike of the item on the international market as an excuse.

The coarse variety of red lentil sold for Tk 80-90 a kg and the medium quality variety for Tk 100 a kg on the market on Thursday.

The fine variety of red lentils sold for Tk 115-120 a kg on the day.