The amount of sugar awaiting loading at ports in Brazil, the world’s largest producer, rose 26 percent over the past week as Muslim nations stepped up purchases before the fasting month of Ramadan.
Sugar amounting to 1.61 million metric tons was to be loaded on vessels at the country’s main ports as of yesterday, according to shipping agency Williams Servicos Maritimos Ltda. That compares with 1.28 million tons a week earlier. Muslim countries usually stock sugar before Ramadan, which starts in July this year.
About 38 percent of all the sweetener waiting to be loaded, or 618,452 tons, will be exported to Muslim nations, the Williams figures showed. Destinations include Indonesia, which has the biggest global Muslim population, as well as Saudi Arabia and Iran, according to the data.