The imported sugar is expected to arrive in Karachi by the end of September, amid ongoing fluctuations in domestic sugar prices. This update came during a high-level committee meeting chaired by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Thursday.
The meeting reviewed the current sugar availability across the country and evaluated progress on imports. It was noted that although prices have declined recently, they still remain slightly above the official rates set by provincial authorities.
In response to rising sugar prices and fears of artificial shortages, the federal government has taken control of all sugar stocks nationwide, assuming full oversight from private mills. Officials from the Ministry of Food Security confirmed that this step was taken to regulate supply and prevent price manipulation.
To enforce this control, the government has deployed Federal Board of Revenue (FBR) officials to monitor warehouses at sugar mills across the country. Additionally, 18 sugar mill owners and related individuals have been placed on the Exit Control List (ECL), with their names to be made public soon. Authorities confirmed that 1.9 million metric tons of sugar are now under direct government supervision.
Pakistan received international bids on Thursday for the supply of 100,000 metric tons of sugar, with the lowest bid priced at $539 per metric ton, including cost and freight (C&F), according to European traders.
The lowest offer came from trading firm ED&F Man, proposing to supply 50,000 tons of fine grain white refined sugar from any origin. However, no contract has been finalized yet, as the Trading Corporation of Pakistan (TCP) is still reviewing the submissions.
Other significant bids included an offer from Dreyfus at $567.40 per ton C&F for 25,000 tons of fine grain sugar, and a bid from Al Khaleej Sugar at $599.00 per ton C&F for 30,000 tons of medium grain sugar.
Other offers included $567.40 per ton for 25,000 tons of fine grain sugar by Dreyfus and $599.00 per ton for 30,000 tons of medium grain sugar from Al Khaleej Sugar. No deal has been finalized yet, as the Trading Corporation of Pakistan (TCP) is still reviewing the bids.
