Pakistan has initiated the process of exporting 107,739 tonnes of imported sugar, with the Trading Corporation of Pakistan (TCP) inviting electronic bids for the available stock.
According to the bidding process, interested parties will be required to submit their offers electronically by September 28, with the bids scheduled to be opened on the same day.
Authorities have specified that only electronic submissions will be considered as part of the process.
The move comes after Pakistan imported more than 300,000 tonnes of sugar last year to help meet domestic requirements and stabilize supplies.
The imports reportedly cost around Rs. 50 billion, making the decision to export a portion of the stock a significant development for the country’s sugar market.
The planned export could place a substantial quantity of the previously imported commodity back into international markets.
It also highlights the challenges involved in balancing domestic supply, imports, prices and surplus stocks.
The outcome of the bidding process will determine how much of the 107,739-tonne stock is ultimately exported and the financial return generated from the sale.
