Local refiners have suggested that sugar rates at the domestic level should be fixed based on the import price and other different components so that they do not face any loss.
They also sought their effective role in price fixation of the essential item.
In a letter, the Bangladesh Sugar Refiners Association made the proposals to the commerce ministry and urged it to take necessary steps in this regard.
They fear that refiners will face losses financially, if the government takes into consideration LC prices, release price and related components.
It would discourage them to import the item, the letter mentioned.
The association said the essential items market should move at its own speed to keep the free market economy stable.
Presently, the government authorities fix the prices of sugar on the basis of international prices, different local components and other aspects in discussion with the refiners, a source said.
The government should fix the prices of sugar prices as per the LCs for imported raw sugar as there was no stock of previous sugar in the country, he added.
The country's annual demand for sugar is 1.8 to 2.2 million tonnes. The country imports 2.7 to 2.8 million tonnes of raw sugar annually.
