Some 100,000 tons were bought at $556.80/ton (c&f) and 100,000 tons in containers at $551.80/ton c&f, traders said. The seller was Al Khaleej Sugar of the United Arab Emirates. In its previous sugar tender on April 17, the TCP bought 75,000 tons of white sugar at $591/ton c&f from Cargill.
Since the TCP’s last tender, sugar futures have dropped sharply, partly because of improving crop prospects in top producer Brazil and India, helping consumers like Pakistan which have a large import requirement. The next 200,000 tons tender closes on Saturday, May 15.
Published in the Express Tribune, May 11th, 2010.
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ