European traders reported on Thursday that Pakistan's TCP, the state-owned trading agency, has bought another 50,000 metric tonnes of white sugar as part of an international tender for around 100,000 tons that closed this week.

The total amount of the week's purchases has now reached 105,000 tonnes, following a purchase of 55,000 tons on Wednesday.

They said that the additional 50,000 tonnes were purchased from ED&F Man for an estimated $539.00 per ton c&f. The tender called for the arrival of sugar in Pakistan no later than October 20.

Pakistan has approved plans to import 500 tons of sugar in order to help maintain price stability following a sharp rise in retail sugar prices.

TCP also released another tender for the purchase of 200,000 tons white sugar. Price offers are due on August 21, 2018. Michael Hogan reports.

(source: Reuters)