The country’s sugar output in 2013/14 (July-June) rose 20% from a year ago at a time when the state procurement agency is struggling with huge stocks of unsold sweetener amid rising raw sugar imports by private refiners.
Bangladesh Sugar & Food Industries Corp typically imports white sugar for its reserves, but good output and high stocks allowed it to come up with a global tender in 2012 to export refined sugar from locally produced cane to the European Union under an EU preferential quota.
“Sugar production hit 128,300 tonnes this year, up from 107,000 tonnes last year,” Harun Mia, chief purchasing officer of the state agency said.
“But, we are in huge trouble with unsold sugar stocks. Even last year’s sugar is not yet sold,” he said.
Private refiners in Bangladesh imported around 2 million tonnes of raw sugar in the current fiscal year ending this month, up from 1.37 million tonnes in the year to June 2013.
Private refiners mostly import raw sugar from Brazil, India and Thailand.
