Brazil’s Sugar at Ports Falls 7.4% as Vessels Head to Black Sea
The amount of sugar waiting to be loaded at ports in top producer Brazil fell 7.4 percent over the past week as vessels headed for Indonesia and the Black Sea, data from Williams Servicos Maritimos Ltda. showed.
Sugar waiting to be loaded at the ports of Recife, Maceio, Vitoria, Paranagua and Santos, the country’s biggest, amounted to 1.64 million metric tons as of yesterday, e-mailed data from the Recife, Brazil-based shipping agency showed. That’s down from about 1.77 million tons a week earlier.
Vessels scheduled to go to Indonesia were set to take 129,860 tons of sweetener, while ships bound for the Black Sea region would take 124,500 tons, the data showed. Another 112,600 tons were bound for Algeria, where Cevital operates two refineries. Ships were also headed to countries including Tunisia, China and Malaysia, according to Williams Brasil.
China was the world’s biggest raw sugar importer last season and Indonesia is forecast to be the top buyer this year, according to U.S. Department of Agriculture data.
Raw sugar for delivery in October was 0.3 percent higher at 16.43 cents a pound by 5:13 a.m. on the ICE Futures U.S. exchange in New York.
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