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The government has endorsed import of 50,000 tonnes of sugar through international tender at a cost of Tk 2.11 billion.
The Cabinet committee on government purchase cleared the proposal to buy the sugar at a meeting chaired by Finance Minister AMA Muhith on Wednesday.
Additional Cabinet Secretary Mostafizur Rahman told reporters that London’s ED&F Man, the lowest bidder, will supply the sugar in two consignments at $470 per tonne.
The government wants to quickly import sugar, as it would take until January for sugar from the local mills to hit the market.
Bangladesh needs 1.4 million tonnes of sugar a year, of which 7 to 8 per cent comes from the 15 mills in the country that imports the rest, according to bdnews24.com.