Bangladesh imports 175,000T sugar to cool prices

DHAKA:  Bangladesh will import 175,000 tonnes of sugar to keep prices of the sweetener stable, a senior official of the state-owned Bangladesh Sugar and Food Industries Corporation said on Wednesday.

The government is in talks with Brazil to import 100,000 tonnes of sugar in a state-to-state deal, the official said.

"We are also in the process of buying 75,000 tonnes of sugar from the international market, and procure 20,000 tonnes locally as a precautionary measure in view of the market situation," he said.

"Around 125,000 tonnes of sugar, produced by the state-owned crashing mills, will be supplied to the local markets to rein in prices and prevent any artificial crisis," the official said.