HAMBURG: The Trading Corporation of Pakistan (TCP) is believed to have purchased some 200,000 tonnes of white sugar in an international tender which closed on Aug 24, European traders said on Tuesday.

The commodity was purchased at an estimated $637.10 a tonne c&f, they said. Seller was believed to be Al Khaleej Sugar (AKS).

AKS offered the lowest price in the tender last week which sought sugar in bags.

Pakistan in 2020 approved sugar imports to meet a shortage and cool local prices as production fell below consumption levels.

Published in Dawn, September 1st, 2021