HAMBURG: The lowest price offered in the international tender from Pakistan to buy 100,000 metric tons of white sugar on Monday was believed to be $539.00 a metric ton, cost and freight (c&f) included, European traders said in initial assessments.
Offers in the tender from state trading agency Trading Corporation of Pakistan were still being considered and no purchase had been reported yet, they said.
Pakistan’s government last month approved plans to import 500,000 tons of sugar to help to maintain price stability after retail sugar prices rose sharply.
The lowest offer was said to have been submitted by trading house ED&F Man for 50,000 tons of fine-grade sugar sourced from any origin.
There were reportedly three other participants in the tender.
Dreyfus was said to have offered $580.75 a ton c&f, for 25,000 tons of fine-grade sugar from any origin, while Al Khaleej Sugar offered $586.00 a ton c&f for 30,000 tons of medium-grade sugar sourced from the United Arab Emirates. Trading house Bare offered $555.00 c&f for medium grade and $550.00 c&f for fine-grade sugar, both from Brazil.
Reports reflect the assessments so far from traders and further estimates of prices and volumes are still possible later.
No purchase was reported in a previous tender for 100,000 tons on July 31, with the lowest price offer also $539.00 a ton c&f.
The new tender seeks small/fine- and medium-grade sugar from worldwide origins, excluding India and Israel.
The sugar shipments should be organized to achieve the arrival of all the sugar in Pakistan by October 20, traders said.
Shipment of breakbulk supplies is sought from September 1 to September 15 for 50,000 tons, while the rest can be shipped from September 10 to September 25. Sugar in ocean shipping containers can also be shipped between September 1 to 20.
