HAMBURG: Trading Corporation of Pakistan (TCP) is believed to have rejected all offers and made no purchase in an international tender for 50,000 tonnes of sugar which closed this week, European traders said on Friday.

Current sugar import needs may be reassessed, traders said.

The lowest price offered in the tender on Wednesday was $533.90 tonne c&f with four companies participating.

TCP has issued a series of sugar tenders in recent months to cool local prices.