Pakistan Seeks 100,000 Tons of Sugar in New Tender

HAMBURG: The Trading Corporation of Pakistan (TCP) has launched a new global tender for the procurement of 100,000 metric tons of white refined sugar, according to sources on Monday.

The closing date for submitting bids is set for August 11.

Market observers suggest this move implies that Pakistan will likely not finalize any purchases from its previous tender issued on July 31, which also sought 100,000 tons of sugar.

On July 8, the government of Pakistan gave the go-ahead to import 500,000 tons of sugar with the aim of stabilizing domestic prices. Analysts have noted a significant surge in retail sugar prices nationwide since January.

It was reported that in the July 31 tender, three firms participated, with the lowest offer recorded at $539.00 per ton, including cost and freight (c&f).

Reportedly, the prior tender on July 22 to acquire 50,000 tons of sugar did not receive any offers. Traders attributed this to the short delivery window between August 1-15, making it challenging to fulfill orders.

The latest tender specifies that the sugar should be small/fine and medium grade, sourced globally, excluding India and Israel. It should be packed in bags and transported via ocean shipping containers or breakbulk.

For breakbulk shipments, the delivery timeframe is September 1-15 for 50,000 tons and September 10-25 for the remaining 50,000 tons.

The 50,000 tons of sugar shipped in ocean containers can be delivered between September 1 and 20.

The goal is for all sugar shipments to reach Pakistan by October 20.