HAMBUR: The Trading Corporation of Pakistan (TCP), Pakistan’s state agency, has issued a new international tender to purchase 100,000 metric tons of white refined sugar, European traders said on Monday.

The deadline for submission of price offers is August 11.

The announcement is believed to indicate that Pakistan will make no purchase in its previous tender for 100,000 tons of sugar on July 31, traders said.

On July 8, Pakistan’s government had approved plans to import 500,000 tons of sugar to help to maintain price stability. Market analysts said that retail sugar prices in the country have risen sharply since January.

Traders said three companies had participated in the July 31 tender, with the lowest price offer assessed at $539.00 a ton cost and freight included (c&f).

Pakistan reportedly received no offers in a previous tender to buy 50,000 tons of sugar on July 22, with traders saying the requirement to load shipments from August 1-15 was too short notice for realistic offers.

The new tender seeks small/fine and medium grade sugar from worldwide origins, excluding India and Israel, packed in bags transported either in ocean shipping containers or breakbulk.

Shipment of breakbulk supplies is sought from September 1-15 for 50,000 tons and September 10-25 for 50,000 tons.

For 50,000 tons of sugar in ocean shipping containers, shipment can also be made between September 1 and 20.

Shipments should be organized to achieve the arrival of all the sugar in Pakistan by October 20.