European traders reported on Tuesday that the Trading Corporation of Pakistan, a Pakistani state agency, has reduced its request for white refined sugar in an international tender to 50,000 tons.

The original tender sought between 300,000 and 500,000 metric tonnes.

The deadline to submit price offers was also changed from 18 July to 22 July.

Two 25,000-ton loads are now required to be loaded between August 1-15. The total volume of the purchase must be delivered to Pakistan by 30 August.

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. (Reporting and editing by Saad sayeed, with Michael Hogan)

(source: Reuters)