26/03/10 – Trading Corp. of Pakistan delayed opening a tender to purchase 200,000 metric tons of white sugar after global prices plunged on prospects for improved supply.
The state-run agency will open the tender on April 17 instead of March 27, Trading Corp. said in a notice on its Web site. The agency didn´t give any reasons for the delay.
The agency had issued invitations for the tender on March 10 to import white sugar to rein in local prices.
White-sugar futures have dropped 40 percent from a two- decade high in mid-January on reports of improved crop prospects in India and delayed orders by buyers including Egypt and Pakistan. August-delivery futures fell 0.8 percent yesterday to $464.50 a ton on the Liffe exchange. | 