Pakistan extends offer validity in 100,000 ton sugar tender, traders say
Pakistan invited price offers in an international tender for up to 100,000 tons of sugar, valid until October 14. No purchase has been confirmed, and a deal appears unlikely. The government plans to import 500,000 tons to stabilize rising retail prices, with the last purchase of 80,000 tons made on September 29.
HAMBURG: Pakistan has asked for price offers in an international tender to buy up to 100,000 metric tons of sugar to remain valid until Tuesday, October 14 while offers are considered further, European traders said on Monday.
No purchase has yet been reported, traders said.
Traders said they believed a purchase in the tender was looking increasingly unlikely.
Offers had been submitted on October 6.
The TCP can negotiate for several days in tenders before deciding whether to purchase.
Pakistan’s government has approved plans to import 500,000 tons of sugar to help to maintain price stability after retail sugar prices in the country rose sharply.
TCP held a series of sugar tenders in past weeks with the last purchase of 80,000 tons reported on September 29.
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Source : Business Recorder
