Sugar Losses Estimated at 28,000 Tons in Brazil Depot Fire
A warehouse holding about 28,000 metric tons of sugar was destroyed in a fire today in Santa Adelia, Brazil, said the company responsible for the facility.
There were no injuries and all the sweetener was insured, Agrovia SA, in which ED&F Man Holdings Ltd. holds a 25 percent stake, said in an e-mailed statement.
Fire fighters prevented the blaze from spreading to a second storage unit, Agrovia Chief Executive Officer Guilherme Raposo said earlier today by phone, estimating losses at 25,000 to 30,000 tons. Raw sugar for delivery in March rose 0.5 percent to 19.06 cents a pound at 1:53 p.m. in New York. Prices jumped last week when a fire at Brazil’s Santos Port destroyed 180,000 tons.
“We sent a crew to the city to evaluate damages and see which company’s sugar was affected,” Raposo said in a phone interview from Sao Paulo. “We are already working to have the second unit’s service reestablished as soon as possible.”
Tereos Internacional SA (TERI3)’s Guarani SA unit said by e-mail that it is assessing damage at the Santa Adelia site, which accounts for less than 1 percent of its total sales. Daniel Friend, a spokesman for ED&F Man, declined to comment.
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