Pakistan’s Trade Corporation on Monday released a new international tender for the purchase of one million metric tonnes of sugar.
According to European traders, on August 11, the time frame has been fixed for offering Chinese price offer.
Traders say that from the announcement, Pakistan seems to have not purchased from its previous one million tonnes of Chinese tenders released on 31 July.
On 8 July, the Pakistani government approved a plan to import 5 million tonnes of sugar to maintain sugar prices.
According to market analysts, the country’s retail prices have increased significantly since January.
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Traders said that three companies participated in the tender of 31 July, the lowest price $ 539.00 per ton (including the cost of freight).
Pakistan had earlier issued an tender to buy 50,000 tonnes of sugar on 22 July, for which no proposal was received. According to the traders, the delivery situation from 1 August to August was very low, which made the appropriate proposal possible.
The new tender has tender for fine and medium sugar from all over the world, but imports of India and Israel will not be allowed.
According to the tender, the pack in the sugar bag can be transported either by marine shipping containers or through brake bulk shipments.
The delivery of 50,000 tonnes for brake bulk sugar shipment can be done between 1 and 15 September, while another 50,000 tonnes can be delivered between 10 to 25 September.
If shipping containers are sent, sugar delivery can be done between 1 September and 20 September.
The tender has been directed to ensure the complete shipment of all sugar by 20 October.