Pakistan receives offers in 100,000 ton white sugar tender, traders say

HAMBURG: The lowest price offered in the international tender to buy 100,000 metric tons of white refined sugar from Pakistan on Thursday was believed to be $539.00 a metric ton cost and freight included (c&f), European traders said in initial assessments.

Offers from the Trading Corporation of Pakistan (TCP) state agency are still being considered and no purchase has yet been reported, they said.

The lowest offer was said to have been submitted by trading house ED&F Man for 50,000 tons of fine grain sugar sourced from any origin.

Two other participants were reported. Dreyfus was said to have offered $567.40 a ton c&f for 25,000 tons of fine grain sugar from any origin and Al Khaleej Sugar was believed to have offered $599.00 a ton c&f for 30,000 tons of medium grain sourced from the United Arab Emirates.

Reports reflect assessments from traders and further estimates of prices and volumes are possible later.

Pakistan tenders to buy 100,000 metric tons of sugar, traders say

Pakistan’s government had approved plans on July 8 to import 500,000 tons of sugar to help to maintain price stability after a sharp rise in the country’s retail sugar prices.

Pakistan received no offers in a July 22 tender to buy 50,000 tons of sugar, with traders saying the requirement to load shipments over August 1-15 was too short notice for realistic offers.

The new tender seeks shipment of breakbulk supplies between August 21 and September 5 for 50,000 tons or September 1-15 for 50,000 tons. For 50,000 tons of sugar in ocean shipping containers, shipment can also be made between August 21 and September 10.

Shipments should be organised to achieve arrival of all the sugar in Pakistan by September 30, with containerised shipments able to arrive up to five days later.