According to European traders, Pakistan’s state-run Trading Corporation of Pakistan (TCP) has released two new foreign tenders for the purchase and import of 300,000 tonnes of wheat and 50,000 tonnes of white sugar.
Tenders are due by March 16th.
Pakistan has been buying wheat and sugar on the global market on a regular basis in recent months in an effort to boost local supplies and lower prices.
Fresh tenders were planned after Pakistan announced on Friday that it would not purchase anything from its previous tenders due to the high prices offered.
The TCP is looking for wheat to ship in April, May, June, July, and August of 2021.
“I believe they will choose the lowest prices available in these months, which may include a wide range of shipping periods, but they will only buy about 300,000 tonnes,” one trader predicted.
The TMO has the option of buying 5% more or less than the tender value. Offers for a minimum of 100,000 tonnes must be produced.
Sugar is sourced from all over the world, packed in bags and shipped in containers or bulk carriers.
Rapid shipping is desired, with staggered deliveries beginning two weeks plus voyage period after contract award for 10,000 tonnes in containers and/or 25,000 tonnes in bulk.
Pakistan authorized sugar imports in July 2020 to address a shortage caused by production falling short of demand.
Imports of Soya beans
Meanwhile, as strong domestic demand for animal feed continues, Pakistani importers have recently purchased an estimated 594,000 tonnes of soya beans to be sourced optionally from Brazil or the United States for shipment in 2022, according to European traders.
According to one dealer, Pakistan is currently purchasing 200,000 to 250,000 tonnes of soybeans per month due to high demand for soymeal for poultry.
The sales include three 66,000-tonne consignments for February 2022 shipment, four 66,000-tonne consignments for March 2022 shipment, and two 66,000-tonne consignments for April 2022 shipment.
“Crush profit margins have shrunk, but Pakistani buyers are willing to book ahead to ensure they get soybeans,” the trader said.
