The Trading Corporation of Pakistan (TCP) has issued a fresh international tender to procure 100,000 metric tonnes of white refined sugar, according to European traders on Monday. The deadline for submission of price offers is August 11, reported Reuters.
The move suggests that Pakistan is unlikely to proceed with purchases under its previous tender for the same quantity issued on July 31, traders noted.
Earlier, on July 8, the Pakistani government approved the import of 500,000 tonnes of sugar to stabilize prices, which have surged significantly since January, according to market analysts.
Traders reported that three companies participated in the July 31 tender, with the lowest bid coming in at $539.00 per ton, cost and freight (c&f) included.
An earlier tender for 50,000 tons, issued on July 22, reportedly received no bids. Traders attributed this to the tight shipment window of August 1–15, which they said was too short for viable offers.
The latest tender calls for small/fine and medium-grade sugar from global origins. The sugar is to be packed in bags and shipped via ocean containers or breakbulk.
Breakbulk shipments are requested in two phases: 50,000 tons between September 1–15 and another 50,000 tons from September 10–25.
