Bids in sugar tender $556.80 to $608 a tonne

HAMBURG (Reuters) - Bids in the international tender from TCP to purchase 200,000 tonnes of white sugar ranged between $556.80 to $608 a tonne c&f, European traders said on Monday. It was believed the TCP was close to buying some of the tender volume at $556.80 a tonne c&f, traders said. The tender had closed on Saturday, May 8. Pakistan also has three more tenders to buy a huge 600,000 tonnes of white sugar closing in May. Traders said AKS offered 50,000 tonnes as break bulk cargo at $556.80 a tonne c&f, Cargill offered 50,000 tonnes in containers at $558.50 a tonne c&f, Agrocorp offered 50,000 tonnes as break bulk at $594.95 at tonne c&f, and Man offered 5,000 tonnes at $563 in containers and 28,000 tonnes as break bulk at $608 a tonne c&f. All of the offers involved optional origins, traders said. In its previous sugar tender reported on April 17, Pakistan bought 75,000 tonnes of white sugar at $591.00 a tonne c&f from Cargill. Since Pakistans last tender, sugar futures have dropped sharply, partly because of improving crop prospects in top producer Brazil and top consumer India, helping consumers like Pakistan which have a large import requirement.

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