Pakistan : Expensive Bids Halt Sugar Import Decision
Islamabad – Pakistan may cancel its sugar import tender due to high global prices, with bids reaching up to Rs 227/kg, sources said. The Trading Corporation of Pakistan had aimed to import 100,000 MT, but officials say the cost is too high to justify, fearing market burden. The tender, set for August 11, remains uncertain.
ISLAMABAD – The government of Pakistan has decided not to proceed with expensive sugar imports due to high international prices, sources confirmed.
According to officials, the Trading Corporation of Pakistan (TCP) received significantly high bids in response to its tender for importing 100,000 metric tons of sugar. As a result, authorities are considering canceling the current tender altogether.
Sources revealed that the tender, scheduled to open on August 11, may not move forward if prices remain too high. TCP had earlier floated a similar tender in which four companies submitted bids, but the proposed import price reached as high as Rs 227 per kilogram – far above expectations.
Due to the situation, the government is hesitant to import sugar at a higher cost, which would ultimately burden the local market. In the new tender, the import target has been doubled from 50,000 to 100,000 metric tons, showing the urgency, but also increasing financial pressure.
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