According to European traders, the lowest price proposed in the international tender to buy 100,000 tonnes of sugar from Pakistan’s state trading agency Trading Corporation of Pakistan (TCP), which concluded on Friday, was $526.80 tonne c&f.
They added that offers are still being examined and that no purchase has yet been reported.
The tender requests that the first 25,000 tonnes be shipped in only 15 days plus voyage time after contract award, with the remaining 25,000 tonnes being shipped weekly in stages.
Sugar is sought from all over the world, packaged in bags. Pakistan’s government permitted sugar imports in 2020 to address a shortage and lower local prices when supply fell short of demand.
In recent months, the TCP has issued a number of sugar purchase tenders.
Pakistan is understood to have made no purchase in its most recent procurement for 50,000 tonnes, which was announced on June 4.
