Through the government managed Trading Corporation of Pakistan, Islamabad had issued a tender to purchase 200,000 tons of sugar.
But the country purchased 50,000 metric tons of refined sugar at $585 a ton from Sadan General Trading LLC, a Dubai based firm , reports Bloomberg.
The price is 18 percent below the current rate in London, a global benchmark for refined sugar. Sadan was unable to supply more at the contracted prices.
The Trading Corporation of Pakistan on Feb. 11 scrapped a tender to buy 150,000 tons of white sugar after a dispute with the lowest bidder.
Pakistan requires a total 1.2 million tons to bridge a gap in supplies that has pushed prices to near a record. It plans to import 500,000 tons by June and another 700,000 tons by July.