LONDON, Aug 11: The first shipment of around 19,000 tons of white sugar out of the 100,000 tons bought by the state-run Trading Corporation of Pakistan (TCP) in a recent tender has arrived in Pakistan, the chairman of Dubai’s Al Khaleej sugar refinery, which won the tender, said on Thursday.
“The first boat is there. It arrived in the last two days,” Jamal Al Ghurair told Reuters from Dubai.
Al Khaleej is expected to be among bidders in another TCP tender for 50,000 tons of white sugar in which offers must be received by Saturday August 13, trade sources said. Meanwhile, the TCP said on Thursday it would issue a third tender to buy 50,000 tons of duty-free refined sugar later this month.
TCP Chairman Masood Alam Rizvi said the tender would be held in August and shipments would be completed before the fasting month of Ramazan, which is due to start in the first week of October.
“The government had mandated us to buy 200,000 tons (of refined sugar), we have already bought 100,000 tons and also tendered for 50,000 tons,” Mr Rizvi told Reuters.
“We have not yet decided a date but the tender to buy the remaining quantity (50,000 tons) will be issued in August.”
Facing a sugar shortage and runaway prices, Pakistan has been buying the commodity from international markets since January, and last month the TCP purchased 100,000 of white sugar from UAE-based Al Khaleej Sugar Company at $366 a ton, including cost and freight (C&F) to Karachi.
