Pakistan exports sugar to RI

Pakistan exports sugar to RI

KARACHI (AFP): Pakistan will bid for the export of about 200,000 metric tons of sugar to Indonesia this month, industry sources said Sunday.

The Indonesian State Logistic Agency (INLA) has informed Pakistan it will float an international tender for the purchase of 200,000 tons of white sugar this month, a mill owner told AFP.

Pakistan which had a surplus of 700,000 tons, has enough stocks after exporting more than 420,000 tons of sugar to India, Canada, the United Arab Emirates and West Africa by August this year, he said preferring anonymity.

The country produced a record 3.5 million tons of sugar this year against domestic demand of 2.8 million tons.

"We will certainly participate in the bidding. I think prospects are good, " he said.

He said sugar prices have fallen internationally from 347 dollars to 285 dollars a tonne after Brazil and China entered the market.