Bangladesh to import 50,000 tonnes of sugar

Bangladesh will import 50,000 tonnes of sugar before mid-September to meet swelling demand during the Muslim fasting month of Ramazan and keep prices of the sweetener stable, chairman of the state-owned Bangladesh Sugar and Food Industries Corporation said on Friday. This news comes on the heels of the government's decision to waive import duty on raw sugar and cut the levy on refined sugar for the next two months.
"We are importing sugar after many years to rein in prices and prevent any artificial crisis, especially in the Muslim fasting month of Ramazan, due to start in August," Ranajit Kumar Biswas told Reuters. Sugar prices routinely surge during Ramazan as demand rises sharply at that time.