LONDON: Iran has bought 60,000 tonnes of Brazilian raw sugar, adding to an earlier purchase this month as the Islamic Republic steps up imports, trade sources said on Thursday.

They said Iran’s state buyer the Government Trading Corporation (GTC) purchased the cargo earlier this week from an international trade house.

One senior trade source said it was for prompt shipment and that the price paid was $466 per tonne cost and freight.

This followed the purchase of a separate cargo of 60,000 tonnes of Brazilian raw sugar for July 15-Aug 15 shipment in early July, sources had said.

Another trade source said GTC appeared to have paid a slightly higher price in the latest tender.

“It looks like there is more buying impetus from GTC. This could an indication of stock building,” the second source said.

“Iran still remains under financial pressure at the moment.”

Trade sources told Reuters last month that Iran had picked up at least 250,000 tonnes of Brazilian raw sugar for shipment in May and June in a series of deals, adding that the buyers were mainly private importers.

International measures against Iran - including banking restrictions - were lifted in January as part of a deal with world powers under which Tehran agreed to curb its nuclear programme.

While there were never restrictions on Iran’s food and humanitarian trade, continuing trade finance problems together with stockpiling of commodities, including sugar, last year has slowed activity.

Trade sources said Iranian buyers last picked up sugar in the final quarter of last year.—Reuters