Hamburg: The Trading Corporation of Pakistan (TCP) has issued a fresh tender to buy 100,000 metric tons of white refined sugar, with bids due by October 6, European traders said on Monday. The delivery of the sugar is expected around November 15, reported Reuters.
Traders believe the agency recently purchased about 80,000 tons of sugar in a tender that closed last week, following extended price talks. Of this, around 50,000 tons of fine grade sugar were bought from ED&F Man at an estimated cost of $530 per ton, including freight. Another 30,000 tons of medium grade sugar were bought from Al Khaleej Sugar at about $568 per ton, traders said.
The figures are based on trade estimates, and final prices and volumes could be adjusted later.
The purchases are part of Pakistan’s wider plan to import 500,000 tons of sugar to stabilize the market after retail prices rose sharply in recent weeks.
