ISLAMABAD: Pakistan has initiated the process of selling and exporting more than 100,000 tonnes of white refined sugar to reduce surplus stocks in the domestic market.
According to European traders, the state-run Trading Corporation of Pakistan (TCP) has issued a tender for the sale and export of 107,739 metric tonnes of white refined sugar.
Interested buyers have been asked to submit their price offers by September 28.
Traders said the sugar being offered for export comprises stocks that Pakistan had previously imported. With surplus inventories accumulating in the domestic market, the government has decided to sell and export part of these stocks to help reduce the excess supply.
According to sources, Pakistan imported a substantial quantity of sugar last year, resulting in additional stocks that now need to be cleared from the market.
