KARACHI, May 6: The Trading Corporation of Pakistan has purchased 75,000 tons of white sugar at $509 per ton C&F Karachi, a company spokesman said on Saturday.

“We have bought 50,000 tons from an Indian supplier and 25,000 tons from a Singaporean supplier,” he told Reuters.

TCP issued the import tender on April 27. The suppliers were expected to deliver the shipment within four weeks of the opening of letters of credit.

“The Indian firm had initially offered to supply sugar at $510 a ton, but we were able to bring them a dollar lower,” he added.

He said the Singapore-based supplier was the second lowest bidder and it also agreed to match the lowest bid price.—Reuters