Pakistan’s state-run Trading Corporation of Pakistan (TCP) has reportedly concluded purchases of around 55,000 metric tons of white sugar in its latest international tender, which sought offers for up to 100,000 tons and closed earlier this week, according to European trade sources on Wednesday.
The deal includes 30,000 tons of medium-grade sugar sourced from Al Khaleej Sugar at a price of $586 per ton, cost and freight (c&f) included, and 25,000 tons of fine-grade sugar from Dreyfus at approximately $580 per ton c&f.
Traders said that one additional participant in the tender has been asked to revise its offer, leaving the possibility of another purchase award later this week.
The tender attracted four bids in total. It comes as the federal government has already cleared plans to import 500,000 tons of sugar to stabilise domestic prices, following a sharp surge in retail rates. Offers in this tender were first reported on Monday.
