Bangladesh to buy 100,000 tonnes of sugar

Bangladesh aims to import 100,000 tonnes of sugar in state-to-state deals to meet swelling demand during the Muslim fasting month of Ramadan and keep prices of the sweetener stable, a senior official of the state-owned Bangladesh Sugar and Food Industries Corporation said on Wednesday. "We've already started the process and are in talks with several countries including India, Mexico and Brazil," the official with the corporation said.
Sugar prices routinely surge during Ramazan as demand rises sharply at that time. Sugar prices are up more than 70 percent over the past one year. "We are stockpiling to rein in prices and prevent any artificial crisis, especially in the Muslim fasting month of Ramadan, due to start in August," he said.