Pakistan may buy 650,000 metric tonnes of white sugar from the government of Dubai on the basis of deferred payments, according to Bloomberg.
"We hope to finalize this within the next week-and-a- half," Khan said in an interview at his Karachi office.
We have a shortage of funds so we have to go for deferred payments."
The London price is expected to be the benchmark for the deal, Khan said.
BRAZIL: BTG sees major sugar M&A opportunities
BRAZIL: JOB sees sufficient ethanol stocks for stable prices
Kingsman sees 2012/13 surplus down 43% at 4.7 million tonnes
Macquarie says surplus may cut prices to 18 cents
Olam sees second year of surplus ahead
UAE: Al Khaleej to buy more sugar from India
Marex Spectron says prices will stay lower due to surplus
FO Licht ups sugar production estimate to 175.8 million tonnes
BRAZIL: BTG sees major sugar M&A opportunities
BRAZIL: JOB sees sufficient ethanol stocks for stable prices
Kingsman sees 2012/13 surplus down 43% at 4.7 million tonnes
Macquarie says surplus may cut prices to 18 cents
Olam sees second year of surplus ahead
UAE: Al Khaleej to buy more sugar from India
Marex Spectron says prices will stay lower due to surplus
FO Licht ups sugar production estimate to 175.8 million tonnes