The Trading Corporation of Pakistan (TCP) short-listed six bids on Saturday for a tender to import 50,000 tonnes of white sugar at between $337.45 and $390 per tonne C&F Karachi, an official said.
The lowest bidder was a German-based firm that offered 14,000 tonnes of sugar at $337.45 per tonne, while Dubai-based Al Khaleej sugar refinery quoted the highest supply price of $390 per tonne.
Al-Khaleej made three offers - $280 per tonne for 25,000 tonnes, $370 per tonne for 50,000 tonnes and $390 for another 25,000 tonnes, the official said.
Three London-based companies offered to supply 25,000 each at $371.75, $358 and $387 per tonne, while a Swiss-based firm offered to supply 25,000 tonnes at $360.14 per tonne. Bidders offered Indian, Chinese, Canadian, Thai and Brazilian sugar.
The official said a decision on the bids was expected either later in the day or on Monday. TCP issued the sugar import tender on August 13.
The successful bidders would have to complete the shipments of sugar at Karachi''s Port Qasim within 21 days after opening of a letter of credit.
Facing a sugar shortage and runaway prices, Pakistan has been buying sugar from international markets since January, and last month the TCP purchased 100,000 tonnes of white sugar from Al Khaleej at $366 a tonne, C&F Karachi.
Private traders have also finalised deals to import more than 500,000 tonnes of refined and raw sugar, after the domestic sugar production slipped between to 3.1 million and 3.2 million tonnes this year from 4.0 million tonnes last year.
Pakistan consumes about 3.6 million tonnes of sugar a year.
TCP will issue a third tender to buy 50,000 tonnes of duty-free refined sugar later this month.
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