Bloomberg News

Brazil Sugar-Vessel Lineup Shows Higher China, Egypt Shipments

October 12, 2011

Oct. 12 (Bloomberg) -- The amount of sugar awaiting shipment to China and Egypt from ports in top global producer Brazil rose 18 percent in the past week, according to data from Williams Servicos Maritimos Ltd.

Vessels destined for China and Egypt are waiting to load 341,000 metric tons of the sweetener as of today, up from 288,450 tons on Oct. 5, the data showed. Shipments to China amounted to 165,000 tons, while exports to Egypt totaled 176,000 tons, according to Williams Brasil.

Raw-sugar imports by Egypt’s state-owned Sugar and Integrated Industries Co. will exceed 400,000 tons this year. Since the year began, the company has agreed to buy 365,000 tons, Hussein Ahmed, a purchasing manager, said in an interview on Sept. 22.

China may need to import as much as 3 million tons of the sweetener in 2011-12 as production will lag behind demand by 2.5 million tons, according to Sucden, the trading arm of Paris- based company Sucres et Denrees SA.

ED&F Man Holdings Ltd., Bunge Ltd. and Cargill Inc. will be sending the sweetener to Egypt, while Noble Group Ltd., Bunge and Louis Dreyfus will be shipping to China, the data show.

White, or refined, sugar for December delivery rose $5.90, or 0.9 percent, to $674.40 a ton by 3:19 p.m. on NYSE Liffe in London. Raw sugar for March delivery climbed 0.13 cent, or 0.5 percent, to 26.07 cents a pound on ICE Futures U.S. in New York.

--Editors: Dan Weeks, John Deane.

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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