By Isis Almeida
Forty percent of the sugar waiting to be loaded at ports in Brazil, the world’s largest producer, will be shipped toSaudi Arabia, Egypt and Bangladesh, according to data from Williams Servicos Maritimos Ltda.
Vessels heading to Saudi Arabia will load 120,400 metric tons, with 97,250 tons headed to Egypt and 92,000 tons bound for Bangladesh, data from the shipping agency showed.
Three vessels were also scheduled to sail to Morocco carrying 62,800 tons of the sweetener, while two others would head to Algeria with 63,300 tons.
Ships were waiting at the ports of Recife, Maceio, Vitoria, Santos and Paranagua to load 766,139 tons of the sweetener as of yesterday, the data showed. Santos is the biggest port in the largest global shipper of sugar.
White, or refined, sugar for March delivery dropped 0.4 percent to $629.50 a ton by 9:27 a.m. on NYSE Liffe in London. Raw sugar for March delivery slid 0.3 percent to 24.35 cents a pound on ICE Futures U.S. inNew York.
To contact the reporter on this story: Isis Almeida in London atialmeida3
To contact the editor responsible for this story: Claudia Carpenter atccarpenter2.
