Bangladesh reissues tender for sugar

Bangladesh Sugar and Food Industries Corporation reissued an international tender on Tuesday to import 25,000 tonnes of sugar as part of efforts to build reserves and hold down domestic prices, an official with the corporation said. The last date of submission of offers is October 8 and the tender will open on the same day. The government, which came under growing public fury over food inflation running more than 13 percent, is looking to build reserves of food staples to combat surging food costs.
But imports are being delayed mainly because of volatile prices in the global markets. Mounting worries over lower output in Brazil and China have helped benchmark New York prices scale a six-month high at 31.85 cents per lb on August 24 and October raw sugar futures on ICE still remain within sight of that milestone.