Trading Corporation of Pakistan issues new tender to buy 100,000 tons of refined sugar

The Trading Corporation of Pakistan (TCP) has issued a new international tender for the purchase of 100,000 metric tons of white refined sugar, with the deadline for price offers set for September 23. 

As per reports, the tender comes after TCP is believed to have secured a similar amount of medium-grade sugar last week at an estimated cost of $560 per ton, cost and freight included (c&f), with the trading house Bare believed to be the seller.

The new tender follows a series of sugar purchases made by TCP in recent months, including tenders issued in July, August, and September. 

Traders estimate that around 235,000 tons have already been purchased, with further figures likely to emerge in the coming weeks. The government’s approval to import 500,000 tons of sugar aims to stabilize rising retail prices in the country.

The TCP’s latest tender seeks offers for fine, small, and medium-grade sugar, with shipments required to arrive by November 7. The sugar for this tender can be sourced from any global origin, excluding India, Israel, and other sanctioned countries.

The new tender, along with earlier purchases, forms part of Pakistan’s strategy to ensure sugar availability and price stability amidst increasing domestic demand.