Brazil Sugar at Ports Drops 8% as Ships Bound for China, Egypt

(Businessweek) – The amount of sugar waiting to be loaded at ports in top producer Brazil fell 8 percent in a week as vessels headed for China, Bangladesh and Egypt, according to data from Williams Servicos Maritimos Ltda.

The total amount of sugar was 1.33 million metric tons at Recife, Maceio, Vitoria, Paranagua and Santos, the country’s biggest port, figures e-mailed yesterday from the Recife, Brazil-based shipping agency showed. That compares with about 1.45 million tons a week earlier.

Vessels scheduled to go to China were set to take 151,912 tons of the sweetener, while those bound for Bangladesh would carry 146,500 tons, the data show. Ships headed for Egypt were set to take 94,250 tons and those to Canada 93,770 tons.

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 October was 0.8 percent higher at 16.21 cents a pound by 4:42 a.m. on ICE Futures U.S. in New York.