Pakistan has begun importing sugar to cool down rising prices, with the Trading Corporation of Pakistan (TCP) confirming a purchase of 30,000 tonnes.
The move is part of a larger plan to acquire 200,000 tonnes through global tenders, following the government’s approval to import 500,000 tonnes earlier this year.
Traders said the initial order was likely awarded to Al Khaleej Sugar, with medium-grade sugar priced at around $582.50 per tonne including freight charges. The tender invited suppliers from all regions except India and Israel.
Other bids remain valid until Wednesday, giving TCP flexibility to secure additional quantities if market conditions allow. Prices for sugar have been climbing since January, prompting the government to act.
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This latest purchase comes on top of a previous buy of 55,000 tonnes, taking total confirmed imports to about 85,000 tonnes. Authorities have signalled they will continue to monitor stock levels and ensure smooth supplies to keep markets stable.
Regulators are also tightening their grip on the industry. Some sugar mill owners have reportedly been placed on the Exit Control List to prevent market manipulation.
At the same time, the Competition Commission of Pakistan is examining a case involving 79 mills and the Pakistan Sugar Mills Association over alleged collusion to fix prices.