The international tender for purchasing 50,000 metric tonnes of sugar from Pakistan, issued by the Trading Corporation of Pakistan (TCP), closed on Tuesday without receiving any price offers, according to initial assessments from European traders, Reuters reported.
Traders indicated that the short notice for shipment and arrival periods made it difficult for companies to submit realistic offers. The TCP had set the loading period from August 1-15, with the entire purchase scheduled to arrive by August 30.
Earlier in July, Pakistan’s government approved plans to import 500,000 tonnes of sugar to stabilise domestic prices, following a sharp rise in retail sugar prices since January. However, analysts noted that the tight timelines in the tender could have hindered potential bids.
