Wilmar International Ltd. (WIL) was the only buyer of the raw sugar delivered against the expired March futures contract on ICE Futures U.S. in New York, according to two people familiar with the transaction.
The Singapore-based company took 3,007 contracts, or about 152,763 metric tons, of raw sugar, said the people, who declined to be identified because they are not allowed to speak to the media. The delivery was the smallest for a March contract since 2006, according to Kingsman SA, a Lausanne, Switzerland-based sugar research company owned by The McGraw-Hill Cos. Iris Chan, a spokeswoman at Wilmar, didn’t return a call and e-mail today.
Wilmar entered the sugar business in 2010 through the acquisition of Sucrogen Ltd. in Australia, according to the company’s website. Sucrogen owns eight mills in Australia.
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.