According to traders, Pakistan is believed to have not received any offers for the 50,000 T of sugar tender.
Initial assessments by European traders indicate that no trading companies are believed to have made price offers for the international tender, which closed Tuesday, to purchase 50,000 metric tonnes of sugar from Pakistan.
The traders said that the arrival and shipment periods were too short for them to make realistic offers.
The state-owned Trading Corporation of Pakistan (TCP), in its tender, requested loading between August 1-15. The tender from the state trading agency Trading Corporation of Pakistan (TCP) sought to load the entire volume by August 30.
On July 8, the Pakistani government approved plans to import 500 000 tons of sugar in order to maintain price stability. Retail sugar prices have increased sharply in Pakistan since January, according to market analysts. Michael Hogan reports.
(source: Reuters)
