HAMBURG: The Trading Corporation of Pakistan (TCP) has purchased 200,000 tons of white sugar in a tender which closed on Saturday, European traders said on Monday.
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.