TCP Floats Tender for Sugar Import

HAMBURG: The Trading Corporation of Pakistan (TCP) has launched a fresh international tender seeking to procure 100,000 metric tons of white refined sugar, according to European traders on Monday.

The deadline for submitting price quotations is set for August 11.

Market observers suggest this announcement implies Pakistan will likely forgo a purchase from its prior tender on July 31, which also sought 100,000 tons of sugar.

On July 8, the Pakistani government approved strategies to import 500,000 tons of sugar to stabilize domestic prices. Market analysts have noted a substantial increase in retail sugar prices nationwide since January.

According to traders, the July 31 tender saw participation from three companies, with the most competitive bid reaching $539.00 per ton, including cost and freight (c&f).

Reportedly, Pakistan did not receive any offers in a previous tender for 50,000 tons of sugar on July 22. Traders attributed this to the brief window for loading shipments between August 1-15, making it difficult to provide realistic bids.

The latest tender specifies the need for small/fine and medium grade sugar from global sources, excluding India and Israel. The sugar must be packed in bags and transported either in ocean shipping containers or as breakbulk cargo.

The tender seeks breakbulk shipments of 50,000 tons each, with delivery windows of September 1-15 and September 10-25.