HAMBURG: State trading agency TCP has purchased an initial 30,000 metric tons of white sugar in an international tender seeking around 200,000 tons which closed last week, European traders said on Tuesday.
The validity of other price offers submitted in the tender has been extended until Wednesday, August 27, so more purchases are seen as possible, traders said.
The initial 30,000 ton purchase was believed to have been made from Al Khaleej Sugar for medium grade sugar at an estimated $582.50 a ton c&f, they said.
Reports reflect assessments from traders, and further estimates of prices and volumes are still possible.
The tender sought offers for fine, small and medium grade sugar, all for arrival in Pakistan by October 31.
The TCP can consider offers for several days in tenders before deciding whether to purchase.
Offers in the tender were submitted on August 21. The lowest offer is not always accepted if other conditions associated with it are not seen as attractive.
Pakistan’s government has approved plans to import 500,000 tons of sugar to help to maintain price stability after retail sugar prices rose sharply. The TCP bought a total of 105,000 tons in its previous sugar tender reported on August 14.
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