Hamburg: According to the news agency Reuters, Pakistan’s international tender to purchase 50,000 tonnes of sugar has received the lowest bidding around $447 tonne c&f. The tender closed on Tuesday.
It is believed that the price has been submitted by the trading house Gemini for 50,000 tonnes and is likely to source from Brazil, said the traders.
Pakistan’s state trading agency Trading Corporation of Pakistan (TCP) is considering the offer and has not yet made any decision regarding the purchase of the sugar.
The other offers submitted in the tender in dollars per tonne c&f were Al Khaleej Sugar (AKS) $ 561.50, Dreyfus $535 and ED&F Man $ 579 and Sucden $550.50.
Pakistan in July 2020 had approved sugar imports to meet the domestic demand and keep a check on the price hike in the local markets. TCP has issued series of tenders to meet the domestic need.