Pakistan believed to have received no offers in 50,000 T sugar tender, traders say

HAMBURG: No trading companies werebelieved to have submitted price offers in the international tender to buy 50,000 metric tons of sugar from Pakistan which closed on Tuesday, European traders said in initial assessments.

Traders said the shipment and arrival periods were regarded as having too short notice for realistic offers.

The tender from the state trading agency Trading Corporation of Pakistan (TCP) sought loading from August 1-15.

Pakistan cuts volume sought in sugar tender to 50,000 tons

The entire volume purchased was sought for arrival in Pakistan by August 30.

Pakistan’s government had on July 8 approved plans to import 500,000 tons of sugar to help maintain price stability.

Market analysts said that retail sugar prices in the country have risen sharply since January.