Pakistan’s Trading Corporation (TCP) has invited bids to export 107,739 metric tons of white refined sugar. The tender was confirmed by European traders on Monday. Companies have until September 28 to submit their offers, and all bids will be opened the same day.
Key facts:
- TCP is selling sugar it imported last year, not fresh stock
- Only electronic bids will be accepted; manual submissions will be rejected
- The sale aims to clear a domestic surplus
- Bids close and open on the same day: September 28
The sugar being sold now comes from a much bigger import. The government had allowed TCP to import up to 500,000 tons of sugar to cover a shortage at home. TCP ended up bringing in around 300,000 tons between September and November last year, spending close to Rs50 billion.
Out of that stock, about 192,000 tons were already sold in the local market. That left roughly 108,000 tons still sitting with TCP, close to the 107,739 tons now up for export.
The Economic Coordination Committee approved this export plan in August. Selling the leftover sugar abroad clears TCP’s stock and brings back some of what the government spent buying it in the first place.
