Pakistan issues tender to sell and export 107,739 tons sugar, traders say

A Reuters report carried by Business Recorder says European traders disclosed on Monday that the Trading Corporation of Pakistan (TCP) has put out a call for bids on 107,739 metric tons of refined white sugar. Price offers for the lot are due by September 28, the traders said. The state agency is offering the stock for both sale and export.

According to the traders, the stock on offer consists of sugar imported earlier, and the sale is intended to ease a surplus within the domestic market. The report also recalls that Pakistan brought in large volumes of sugar during the previous year. Taken together, these points indicate that the tender targets inventory already held inside the country.