Bloomberg News

Egypt May Import 230,000 Tons of Sugar This Quarter, Broker Says

October 10, 2011

Oct. 10 (Bloomberg) -- Egypt may import an additional 230,000 metric tons of sugar in the current quarter, said Naim Beydoun, a broker at Swiss Sugar Brokers.

The country’s state-run Sugar and Integrated Industries Co. postponed a tender to buy 50,000 tons of raw sugar yesterday due to high prices, said Hussein Ahmed, a purchasing manager at the company.

Egypt may have 120,000 tons of the sweetener in stock, the Rolle, Switzerland-based brokerage said in a report e-mailed yesterday. The nation is the world’s 10th largest sugar consumer, according to the London-based International Sugar Organization.

Raw sugar for March delivery climbed 0.31 cent, or 1.2 percent, to 25.47 cents a pound by 9:27 a.m. London time on ICE Futures U.S. in New York.

--With assistance from Ola Galal in Cairo. Editors: John Deane, Dan Weeks

To contact the reporter on this story: Isis Almeida in London at Ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.


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