The Trading Corporation of Pakistan (TCP) has issued a new international tender to purchase 100,000 tonnes of white refined sugar, European traders said on Monday.

The quantity is double the earlier procurement target of 50,000 tonnes. The deadline for submission of price offers is August 11.

The announcement is believed to indicate that Pakistan will make no purchase in its previous tender for 100,000 tonnes of sugar on July 31, traders said.

On July 8, Pakistan’s government had approved plans to import 500,000 tonnes of sugar to help maintain price stability. Market analysts said that retail sugar prices in the country have risen sharply since January.

Traders said three companies had participated in the July 31 tender, with the lowest price offer assessed at $539.00 a tonne cost and freight included (c&f).

Pakistan reportedly received no offers in a previous tender to buy 50,000 tonnes of sugar on July 22, with traders saying the requirement to load shipments from August 1-15 was too short notice for realistic offers.

The new tender seeks small/fine and medium grade sugar from worldwide origins, excluding India and Israel, packed in bags transported either in ocean shipping containers or breakbulk.

Shipment of breakbulk supplies is sought from September 1-15 for 50,000 tonnes and September 10-25 for 50,000 tonnes. For 50,000 tonnes of sugar in ocean shipping containers, shipment can also be made between September 1 and 20.

Shipments should be organised to achieve the arrival of all the sugar in Pakistan by October 20.

Meanwhile, traders remain puzzled by the government’s sugar trade policy.

During FY25, Pakistan exported 765,734 tonnes of sugar, generating $411 million in foreign exchange, with an average per tonne price of $537. By contrast, only 33,101 tonnes were exported in FY24, earning just $21m.

Despite the export surge earlier this year, domestic consumers are now grappling with rising prices.

Last week, the government decided to enforce strict monitoring of sugar stocks and deploy officials at each sugar mill to oversee inventory levels and ensure uninterrupted supply in line with commitments made by the Pakistan Sugar Mills Association (PSMA).