The commerce ministry has reduced the prices of both loose and packaged sugar by Tk 3 per kg.

The new price will come into effect from Saturday.

In February, the price was raised by Tk 5 per kg for both types.

As per the recommendation of the Trade and Tariff Commission and Commodity Price Review Task Force, the commerce ministry took the decision on Thursday.

As per the ministry notification, the maximum retail price of loose sugar has been fixed at Tk 104 instead of Tk 107 and packaged sugar at Tk 109 per kg from Tk 112.

Earlier, the ministry increased sugar prices taking into account the increase in the international market price and in the exchange rate of the US dollar and the production cost.

Despite the price fixed by the commerce ministry, the market price of sugar is high. The loose sugar is currently selling at Tk 115 to Tk 118 per kg and packaged sugar at Tk 120 to Tk 125 per kg.