TCP said to buy 200,000 tonnes sugar in tender

HAMBURG: Trading Corporation of Pakistan (TCP) is believed to have purchased some 200,000 tonnes of white sugar in an international tender which closed on Aug. 24, European traders said on Tuesday.

It was purchased at an estimated $637.10 a tonne c&f, they said. Seller was believed to be Al Khaleej Sugar (AKS).

TCP tenders to buy 200,000 tonnes of sugar

AKS offered the lowest price in the tender last week which sought sugar in bags.

Pakistan's government in 2020 approved sugar imports to meet a shortage and cool local prices as production fell below consumption levels.