Sugar Awaiting Loading at Brazil Ports Rose 7.6% in Week
The amount of sugar awaiting loading at ports in top producer Brazil jumped 32 percent in a week after the biggest delivery of raw sweetener on ICE Futures U.S. since 1989, according to Williams Servicos Maritimos Ltda.
Sugar coming to as much as 1.18 million metric tons was waiting to be loaded onto ships at Recife, Maceio, Paranagua and Santos, the country’s biggest port, figures e-mailed yesterday from the Recife, Brazil-based shipping agency showed. That compared with about 896,576 tons a week earlier.
Cargill Inc., Bunge Ltd. (BG) and Wilmar International Ltd. took delivery of about 1.43 million tons of sugar in transactions involving New York futures contracts. That was the biggest delivery in 24 years, exchange data showed. Cargill had about 233,998 tons of sugar scheduled, Wilmar had 185,500 tons and Bunge had 67,500 tons, Williams Brasil data showed.
Raw sugar for delivery in July fell 0.2 percent to 17.43 cents a pound by 5:18 a.m. on ICE in New York.
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