Pakistan’s state-run Trading Corporation of Pakistan (TCP) has issued a fresh international tender to acquire 100,000 metric tons of white refined sugar, according to European traders on Thursday, reported Reuters.
Bidders must submit their price offers by September 8.
The new tender suggests that TCP did not make further purchases in its earlier tender for 200,000 tons of sugar during this week’s negotiations, with only 30,000 tons secured.
To stabilize sugar prices, the government is doing tighter monitoring of sugar stocks and has placed several unidentified mill owners on the Exit Control List.
Pakistan’s government has approved plans to import 500,000 tons of sugar to help to maintain price stability after retail sugar prices rose sharply.
Meanwhile, the Competition Commission of Pakistan (CCP) is currently hearing a cartelisation case involving 79 sugar mills and the Pakistan Sugar Mills Association (PSMA).
