Malaysia is looking to buy up to 3 million tonnes of raw sugar over a three-year period starting in 2012 to replenish stocks, dealers in Singapore said today.

Up to nine trading houses were invited to offer prices last week, but no deals were struck, said the dealers. They added that Malaysia wanted to buy the sweetener at below market price.

The South-East Asian nation consumes about 1.3 million tonnes of sugar a year.

- Reuters