Pakistan Seeks to Import Sugar Amid Price Concerns

HAMBURG: An international tender for Pakistan to acquire 100,000 metric tons of white refined sugar saw a lowest bid of $539.00 per metric ton, including cost and freight (c&f), according to preliminary assessments from European traders on Thursday.

It was noted that the offers from the Trading Corporation of Pakistan (TCP), a state agency, are still being reviewed, and a purchase has not yet been confirmed.

Reportedly, the most competitive bid originated from ED&F Man, a trading firm, for 50,000 tons of fine grain sugar without origin restrictions.

Dreyfus reportedly bid $567.40 per ton c&f for 25,000 tons of fine grain sugar, also irrespective of origin. Al Khaleej Sugar is said to have proposed $599.00 per ton c&f for 30,000 tons of medium grain sugar originating from the United Arab Emirates.

These details are based on assessments from traders, and further revisions to prices and volumes may occur.

The Pakistani government had previously sanctioned plans on July 8 to import 500,000 tons of sugar. The aim is to stabilize domestic prices following a significant increase in retail sugar costs.

In a prior tender on July 22, Pakistan received no offers for 50,000 tons of sugar. Traders cited that the required loading period between August 1-15 was too short, hindering realistic offers.

The latest tender specifies shipment of breakbulk supplies between August 21 and September 5 for 50,000 tons, or between September 1-15 for another 50,000 tons. For 50,000 tons of sugar shipped in ocean containers, the shipment window extends from August 21 to September 10.

All sugar shipments should be arranged to arrive in Pakistan by September 30, with containerized shipments allowed an additional five days for arrival.