Pakistan : Sugar bids received
Pakistan received a lowest bid of $533 per tonne (c&f) in its latest international tender to import 100,000 tonnes of sugar, traders said. The offer came from ED&F Man for 29,500 tonnes of small-grade sugar. The state-run TCP is reviewing bids and may negotiate further before confirming any purchase.
HAMBURG: The lowest price offered in the international tender from Pakistan to buy 100,000 tonnes of sugar which closed on Monday was believed to be $533 a tonne cost and freight included (c&f), European traders said in initial assessments.
Offers in the tender from the state-run Trading Corporation of Pakistan (TCP) are still being considered and no purchase has yet been reported, they said. The TCP can negotiate for several days in tenders before deciding whether to purchase.
The tender seeks small/fine or medium grade sugar and is the latest in a series aimed at increasing supplies to cool local prices, seeking arrival of all the sugar in Pakistan by Nov 15.
The lowest offer was said to have been submitted by trading house ED&F Man for 29,500 tonnes of small grade sugar. ED&F Man also offered $549 a tonne c&f for another 25,000 tonnes of small grade. Two other trading houses also participated in the tender.
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Source : Dawn
