Pakistan’s latest attempt to secure white sugar imports has drawn fresh interest from global suppliers, with offers now under review, traders said Monday.
The Trading Corporation of Pakistan (TCP) is seeking 100,000 tonnes of refined white sugar in its newest tender, part of the government’s broader plan to import half a million tonnes this year to cool surging retail prices. Sugar rates in local markets have climbed sharply since January, driven by tight supplies and speculation over government policy.
Bids on the Table
According to initial market reports, the most competitive offer came from UK-based ED&F Man, which bid $539 per tonne (cost and freight included) for 50,000 tonnes of fine-grade sugar from any origin.
Other bids included:
- Bare: $550 per tonne for fine-grade and $555 per tonne for medium-grade sugar, both from Brazil.
- Dreyfus: $580.75 per tonne for 25,000 tonnes of fine-grade sugar from any origin.
- Al Khaleej Sugar: $586 per tonne for 30,000 tonnes of medium-grade sugar from the UAE.
TCP has not yet confirmed any purchases. The bidding process follows a failed tender in July for 50,000 tonnes, which attracted no offers, and another on July 31 for 100,000 tonnes where the lowest bid—also $539 per tonne—did not result in a deal.
Shipment Timeline
Under the current tender’s terms, suppliers must deliver the sugar by October 20. Bulk shipments are to be split into two phases: 50,000 tonnes between September 1–15, and the remainder from September 10–25. Containerised shipments are allowed between September 1–20. Origins from India and Israel are excluded.
Policy Whiplash
The government’s sugar trade strategy has left some traders scratching their heads. In FY25, Pakistan exported 765,734 tonnes of sugar worth $411 million—at an average price of $537 per tonne—while just a year earlier, exports stood at only 33,101 tonnes worth $21 million.
Meanwhile, authorities have stepped up monitoring of domestic stocks and even placed certain mill owners on the Exit Control List in an effort to rein in prices. The Competition Commission of Pakistan is also pursuing an alleged cartelisation case involving 79 mills and the Pakistan Sugar Mills Association.
The tender outcome could influence both retail sugar prices and the market’s perception of government resolve in managing supply—and preventing further price spikes—in the months ahead.
