Pakistan’s state agency the Trading Corporation of Pakistan (TCP) issued a tender to purchase 100,000 metric tons of white refined sugar and is believed to have bought 80,000 tons in a tender that closed last week, European traders said on Monday.
The deadline for price offers in the new international tender is October 6, with sugar arrival in Pakistan sought around November 15. Traders said that following continued price negotiations in its previous tender reported on September 23, the TCP bought about 50,000 tons of fine grade sugar at and estimated $530 a ton cost and freight included (C&F) from ED&F Man and about 30,000 tons of medium grade from Al Khaleej Sugar at an estimated $568 a ton C&F.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
The tender continued a series of purchases after Pakistan’s government approved plans to import 500,000 tons of sugar to help maintain price stability after retail sugar prices in the country rose sharply.