TCP sugar export tender gets no bids
KARACHI: The sugar export tender floated by the Trading Corporation of Pakistan (TCP) has failed to attract even a single bid, mainly due to the condition of a high minimum reserve price of USD660 per metric ton. The state run grain trader, on the directives of the federal government, on September 6, 2026 issued a tender for the export of 107,739 metric tons of imported white refined sugar on an…
The Trading Corporation of Pakistan (TCP) recently issued an export tender for 107,739 metric tons of white refined sugar, but the tender has failed to attract any bids. The main reason for this lack of interest is the high minimum reserve price set by the TCP at USD660 per metric ton, which is significantly higher than the current international market price of USD505 to USD515 per metric ton.
Despite the government's directive for the tender and the TCP's announcement of a uniform reserve price of PKR 184,800 per metric ton (equivalent to USD660 per metric ton), no bidders participated in the tender. The TCP has since reduced the earnest money requirement from 10% to 2%, but this has not been enough to encourage participation.
The discrepancy between the TCP's reserve price and the prevailing international market rates has made the tender commercially unattractive for companies and exporters, resulting in the failure to secure any bids.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
