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Pakistan Issues Sugar & Wheat Tenders to Control Prices

The lowest price offered in Pakistan’s international tender to buy 50,000 tonnes of sugar is $540.10-tonne c&f, Reuters reported.

The tender closed on Tuesday, and the lowest priced tender was submitted by Al Khaleej Sugar (AKS) for the full 50,000 tons, said the report.

An initial statement by European traders informed that offers in the tender from Pakistan’s state trading agency, Trading Corporation of Pakistan (TCP), are still being considered, and no purchase has yet been reported, they said.

Only one other trading house was believed to have participated in the tender, with Sucden said to have offered $580 a tonne c&f for 25,000 tons. The white sugar is sought packed in bags.

As per the tender, the shipment must be arranged for arrival in Pakistan by May 15, 2021.

Pakistan issued a series of sugar import tenders in 2020 to improve domestic supplies and reduce prices. Pakistan has also issued a tender to buy 300,000 tons of wheat, to improve supply in local markets.

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