HAMBURG: State trading agency TCP has purchased another 50,000 metric tons of white sugar in an international tender seeking around 100,000 tons which closed this week, European traders said on Thursday.

This bought the total purchase this week to 105,000 tons following a 55,000 ton purchase on Wednesday.

The additional 50,000 tons was bought from ED&F Man at an estimated $539.00 a ton c&f, they said. The tender sought arrival of the sugar in Pakistan by October 20.

Pakistan’s government has approved plans to import 500,000 tons of sugar to help to maintain price stability after retail sugar prices rose sharply.

The TCP has also issued another tender to buy 200,000 tons of white sugar with submission of price offers on August 21.—Reuters