Sugar worth Tk30.50cr unsold in Carew & Co in FY20-21

Carew & Company (Bangladesh) Limited, one of the largest sugar producers in the country, has 4,841 tonnes of sugar worth Tk30.50 crore unsold in the 2020-21 financial year due to its fragile marketing policies.

The company also had 4,682 tonnes of unsold sugar in the previous financial year.

Md Gias Uddin, general Manager (Agriculture) and acting managing director of Carew & Company, blamed weakness in marketing for the reason behind such a huge amount of unsold sugar despite having good demand in the market.

"This year the quality of sugar produced by Carew and Company is better than any other year. But a large portion of our sugar remains unsold due to marketing. We lag behind because the marketing of other companies is good. The company sells sugar depending on the dealers. If dealers do not buy sugar, it becomes impossible for us to sell it. We are trying to overcome all the problems."

In the last two financial years, Carew & Co had around 10,565 tons of sugar. By May 2021, the company had sold 5,724 tons of sugar through dealers.

In 2020-21, the company produced 5,883 tons of sugar from 1 lakh 11 thousand tons of sugarcane. Sugarcane crushing in the company started on 18 February 2020 and ended on 21 March 2021.

As Kushtia Jagati Sugar Mill has been closed this year, all the sugarcane produced in Kushtia district was threshed in Carew and Company. Bangladesh Sugar and Food Industries Corporation set a target to produce 9,625 tons of sugar from 154,000 tons of sugarcane this year.

Carew & Company Limited was formed in 1938 in Darshana, Chuadanga. Bangladesh Sugar and Food Industries Corporation is operating the mill. Since its inception, the mill has been working with different problems.

It cultivates sugarcane on 1,550 acres of land. The target for sugarcane production from this land is set at 24,000 tons. Local farmers cultivate sugarcane on 6,982 acres of land and produce around 94,000 tons of sugarcane. The company also collects sugarcane from the local farmers.