Pakistan gets offers in 200,000 tonnes white sugar tender –trade (updated)
24/08/2021 11:52
(Adds detail, companies participating, from paragraph three)
HAMBURG, Aug 24 (Reuters) - The lowest price offered in the
international tender to buy 200,000 tonnes of sugar from
Pakistan's state agency Trading Corporation of Pakistan (TCP) on
Tuesday was believed to be $637.10 a tonne c&f, European traders
said in initial assessments.
Offers are still being considered and no purchase has yet
been reported, they said.
The lowest offer was believed to have been submitted by Al
Khaleej Sugar (AKS).
Only one other offer in the tender was reported, from Wilmar
at $647.10 a tonne c&f. Both offers were for the full 200,000
tonnes of sugar sourced from optional origins.
Prices were sharply up from the $526.80 tonne c&f Pakistan
paid in its last reported sugar purchase on July 5. urn:newsml:reuters.com:*:nL5N2OH0GV
White sugar futures hit 4-year highs last week partly on
concern about reduced production in Brazil. urn:newsml:reuters.com:*:nL1N2PO0WA
Traders said tender terms including shipment in bulk rather
than containers for sugar packed in bags also added to transport
costs.
Pakistan’s government in 2020 approved sugar imports to meet
a shortage and cool local prices as production fell below
consumption levels.
Rapid delivery is sought in the current tender with shipment
of the first 25,000 to 30,000 tonnes being undertaken in only 15
days plus voyage time after the contract award.
The rest should be shipped in stages with all the sugar
arriving in Pakistan by Nov. 10, 2021. The sugar is sought from
worldwide origins.
(Reporting by Michael Hogan, editing by Kirsten Donovan)
((michael.j.hogan@thomsonreuters.com; +49 172 671 36 54;
Reuters Messaging:
michael.hogan.thomsonreuters.com@reuters.net))