The Trading Corporation of Pakistan (TCP) on Monday floated a new international tender to purchase 100,000 metric tons of white refined sugar, Reuters reported, citing European traders. The deadline for submitting price offers is set for August 11.
The move comes after Pakistan did not proceed with its previous tender for 100,000 metric tons of sugar, which closed on July 31. Traders believe the lack of response to the July 31 tender indicates that no purchases will be made under that offer.
Earlier, on July 8, Pakistan’s government approved the import of 500,000 tons of sugar to maintain price stability amid rising retail prices. Market analysts have noted a significant increase in sugar prices in the country since January.
For the July 31 tender, three companies participated, with the lowest price offer assessed at $539 per ton, cost and freight included (c&f). However, a previous tender for 50,000 tons of sugar, scheduled for July 22, received no offers. Traders attributed this to the short notice requirement for shipments to be loaded between August 1-15.
The new tender seeks small/fine and medium-grade sugar from global suppliers, excluding India and Israel, to be packed in bags and transported via either ocean shipping containers or breakbulk.Â
For 50,000 tons of sugar, breakbulk shipments are scheduled between September 1-15 and September 10-25, while shipments in containers can be made from September 1-20.
All shipments should reach Pakistan by October 20.
