HAMBURG: Trading Corporation of Pakistan (TCP) is believed to have rejected offers and made no purchase in an international tender for 50,000 tonnes of sugar which closed this week, European traders said on Friday.

Two offers were reported in the tender which closed on Tuesday.

Pakistan has issued a series of sugar tenders in recent months to cool local prices.

The TCP was reported to have purchased 300,000 tonnes of wheat in a tender on Friday, traders said.