Syndication has become a buzzword among consumers in Bangladesh, particularly in relation to the abnormal price hike of essential commodities over the past several years.
Five companies are enjoying an oligopoly in the sugar market, which was worth more than Tk 9,000 crore in fiscal year 2022-23, as they have expanded their refining capacities to meet increasing demand.
Data from the National Board of Revenue (NBR) shows that nearly 25.7 lakh tonnes of soybean and palm oil were imported in 2023, with the four companies accounting for 80 percent of the total amount.
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