Indian firm wins Pakistan sugar import tender
Indian Sugar Exim Corporation Ltd (ISEC) has bagged four Pakistani import tenders for 50,000 tonnes each of white sugar this year.india Updated: May 09, 2006 12:26 IST
Indian Sugar Exim Corporation Ltd (ISEC) has bagged four Pakistani import tenders for 50,000 tonnes each of white sugar this year.
ISEC had quoted $510 per tonne (cost plus freight at Karachi port) - the lowest rate quoted for the seventh tender floated by the Trading Corporation of Pakistan (TCP) in 2006.
ISEC bagged four out of TCP's seven tenders (each of 50,000 tonnes) floated so far this year.
This includes the first and second tenders of February 25 and March 25, for which ISEC's winning bids were $478 and $473 per tonne respectively.
Other bidders included Agrocorp International of Singapore ($512.95), Cargill International of Switzerland ($526), ED&F Mann, London ($526.48) and Dubai's Al Khaleej Sugar Company ($543.5).
The successful bidder for the third tender, which opened April 10, was Cargill ($505 per tonne), while the fourth on April 15 was again bagged by ISEC at $491.
The fifth and sixth tenders on April 22 and April 29 were both won by Al Khaleej, which quoted $504 and $523, respectively.
The TCP is expected to float more such tenders in the coming weeks.