Brazil’s Sugar at Ports Up 30% as Ships Head to China, IndonesiaIsis Almeida
The amount of sugar awaiting loading at ports in top producer Brazil rose 30 percent in a week as vessels head for China, Indonesia, Algeria and Bangladesh, according to Williams Servicos Maritimos Ltda.
Sugar waiting to be loaded onto ships at Recife, Maceio, Paranagua and Santos, the country’s biggest port, totaled 1.35 million metric tons, figures e-mailed yesterday from the Recife, Brazil-based shipping agency showed. That compares with about 1.04 million tons a week earlier.
Vessels scheduled to go to China were set to take 128,950 tons of the sweetener, while those bound for Indonesia would carry 112,723 tons, the data show. Ships headed for Algeria were set to take 110,499 tons and Bangladesh would get 100,000 tons, according to the shipping agency. China was the world’s biggest raw sugar importer last season and Indonesia is forecast to be the top buyer this year.
Raw sugar for delivery in July was little changed at 16.67 cents a pound by 5:51 a.m. on ICE Futures U.S. in New York.