Updated on
Summary
Trading Corporation of Pakistan (TCP) has only 60,000 metric tons of sugar stock which will meet demands for only a month. TCP has awarded 4th contract for the supply of 200,000 metric tons of white sugar to M/s Al-Khaleej Sugar Co, Dubai at $ 596.10 per tonne C&F. A TCP official said that six bidders had quoted prices in response to the international sugar tender for 200,000 metric tons floated by TCP on February 22, 2010. The highest price was quoted by Cargil International Switzerland at $ 626 per ton C&F for 50,000 MT of sugar while M/s Spizo of Spain quoted the lowest rate at $ 570 per ton C&F for 100,000 MT of sugar. As the lowest bidder M/s Spizo did not submit bid bond and also failed to show, the price evaluation committee gave offer to the second highest bidder Al-Khaleej Sugar to bid for the tender. They accepted the offer and contract was awarded to them. TCP official said that the total awarded quantity has reached 350,000 MT with the award of this contract. The first ship carrying 25,000 MT of white sugar will arrive by the end of this month, he added.
