Pakistan reduces sugar import tender to 50,000 tons amid rising prices: report

Pakistan’s Trading Corporation of Pakistan (TCP) has revised its tender for white refined sugar, reducing the volume sought from 300,000–500,000 metric tons to 50,000 metric tons, Reuters reported, citing European traders.

The deadline for price offers has also been extended to July 22 from the previous date of July 18.

The new shipment arrangement calls for two consignments of 25,000 tons each, to be loaded between August 1 and 15, with the full volume required to arrive in Pakistan by August 30.

Earlier, on July 8, the Pakistani government had approved plans to import 500,000 tons of sugar to stabilize prices in the domestic market, where retail sugar prices have surged since January.