Trading Corporation of Pakistan, a state-owned agency in Pakistan, has announced a new international bid to buy 100,000 metric tons of refined white sugar. It is also believed that 100,000 tons were purchased last week through a previous tender.

The deadline to submit price offers for the new tender is 23 September.

The new announcement was made after a purchase of approximately 100,000 tons of medium-grade sugar last week in an earlier tender at a cost and freight included of $560 per ton. The seller was believed to have been Bare Trading.

The reports reflect the opinions of traders, and it is still possible to estimate prices and volume later.

Pakistani government has

Approved Plans

Import 500,000 tons sugar to maintain price stability, after retail sugar prices in this country rose dramatically.

TCP held a number of sugar tenders during July, August, and September. The recent tenders, including the purchase last week, are estimated to have bought around 235,000 tonnes.

TCP is seeking price quotes for small, medium and fine-grade sugar. The shipment will be arranged so that all sugar arrives by November 7.

Sugar for the new tender may be sourced anywhere in the world, except from India, Israel and other sanctioned nations. (Reporting and editing by Michael Hogan)

(source: Reuters)