Isis Almeida – Bloomberg, 11/05/2012
Sellers of raw sugar from Brazil, the world’s largest producer, are putting their sweetener up for sale at a smaller discount as producers pull out offers from the market, according to Swiss Sugar Brokers.
Raw sugar for loading this month at the port of Santos was at a discount of 0.65 cent to 0.75 cent a pound to the price of the March contract on ICE Futures U.S. in New York, the broker said in a report e-mailed yesterday. That compares with 0.75 cent to 0.85 cent a pound a week earlier, data from the Rolle, Switzerland-based company showed. For December loading, the sweetener was offered at a discount of 0.55 cent compared with 0.65 cent a pound the previous week, the report showed.
“Most of the last week’s offers for the nearby as well for the forward have been taken out from the market, symptomatic of less interest from sellers to trade at deep discount for the nearby,” said Naim Beydoun, a broker at the company.
Brazil Portal 