Hamburg: Pakistan has invited international bids to purchase up to 100,000 metric tons of sugar, with offers remaining valid until Tuesday, October 14, according to European traders, reports Reuters.
So far, no purchase has been reported, and traders said a deal appears increasingly unlikely. The offers for the tender were submitted on October 6, and the Trading Corporation of Pakistan (TCP) can continue negotiations for several days before finalizing any purchase.
The move comes after Pakistan’s government approved plans to import 500,000 tons of sugar to stabilize domestic prices, which have risen sharply in recent weeks. TCP has conducted a series of sugar tenders in the past weeks, with the last purchase of 80,000 tons reported on September 29.
