Pakistan buys 80,000 tons sugar, seeks 100,000 tons more
Pakistan’s Trading Corporation (TCP) issued a tender to import 100,000 MT of white refined sugar, reportedly buying 80,000 MT in the previous tender. Price offers are due by October 6, with arrival targeted around November 15. Purchases include 50,000 MT of fine sugar at ~$530/MT C&F and 30,000 MT of medium sugar at ~$568/MT C&F.
HAMBURG: Pakistan’s state agency the Trading Corporation of Pakistan (TCP) issued a tender to purchase 100,000 metric tons of white refined sugar and is believed to have bought 80,000 tons in a tender that closed last week, European traders said on Monday.
The deadline for price offers in the new international tender is October 6, with sugar arrival in Pakistan sought around November 15.
Traders said that following continued price negotiations in its previous tender reported on September 23, the TCP bought about 50,000 tons of fine grade sugar at and estimated $530 a ton cost and freight included (C&F) from ED&F Man and about 30,000 tons of medium grade from Al Khaleej Sugar at an estimated $568 a ton C&F.
Reports reflect assessments from traders and further estimates of prices and volumes are still possible later.
The tender continued a series of purchases after Pakistan’s government approved plans to import 500,000 tons of sugar to help maintain price stability after retail sugar prices in the country rose sharply.
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Source : Business Recorder
