PAKISTAN: TCP set to buy 200,000 tonnes sugar
Published: 07/25/2012, 10:53:11 AM
In a bid to meet surged demands for sugar in Ramazan, the Trading Corporation of Pakistan (TCP) is all set to complete its 0.2 million tonnes sugar purchase operation on Tuesday, according to Pakistan's PakTribune newspaper.
According to the official, the state-owned corporation has to pay around PKR10 billion (US$105.7 million) for purchase of 0.2 million tonnes of sugar which will take the total cost of sugar operation to PKR32billion this year as it had already purchased around 478,000 tonnes from domestic mills and made payments of PKR22 billion.
TCP has procured 87,000 tonnes sugar from local sugar mills so far out of the 0.2 million tonnes and the remaining sugar will be procured by Tuesday July 31, said the official, adding that the TCP will procure the required amount from 43 local sugar mills at PKR50,510 per tonne.
He said that the corporation has already purchased 478,000 metric tonnes sugar from local mills out of which 378,000 tonnes was purchased at PKR46,250 per tonne and the remaining 0.1 million tonnes sugar procured at PKR45,720 per tonne. TCP had imported around 1.1 million tonnes of sugar during the last three years.