TCP sugar export tender gets no bids

Business Recorder reported that the Trading Corporation of Pakistan received no bids for its sugar export tender, which was opened on September 30, 2026. The government-directed tender, first issued on September 6, offered 107,739 metric tons of imported white refined sugar on an Ex-Works basis at the TCP Pipri Godown in Karachi.

The state-run trader had brought the sugar in last year for domestic use, but with supply now exceeding demand, the government wanted to ship out the surplus before the coming crushing season in November. Under the terms, bids could be placed in dollars and converted to rupees at Rs280 per dollar on EPADS, with payment made only through banking channels. TCP fixed a uniform reserve of Rs184,800 per metric ton, or USD660, for all 11 lots, a combined value of Rs19.91 billion or USD71.1 million.

Prevailing international prices for white refined sugar were around USD505 to USD515 per metric ton, leaving the reserve at least USD145 higher. Even after TCP reduced the security deposit from 10 percent to 2 percent to draw more bidders, the tender still attracted no offers for the surplus stock.