• Waiting times for raw sugar vessels to berth at Santos in Brazil were less than 2 days in July.
  • This is a record low for this time of the year and highlights how poor physical demand for raw sugar has been recently.
  • High sugar prices, a very low white premium and rising bulk freight costs have led to demand being lost or deferred until later in the year.
  • This is a stark contrast to the raw sugar futures market which have been rallying thanks to concerns around the impact of frost on CS Brazilian cane crop.
  • The waiting time has increased slightly for August after sellers offered large discounts due to port storage concerns.

undefined

undefined

 Other Opinions You Might Be Interested In… 

Other Explainers You Might Be Interested In… 

undefined

Ben Seed

Ben joined CZ’s analysis team in 2016 on a year long internship before returning to the University of Bath to complete an Economics Degree. Since re-joining in August 2018, Ben has led the data insights team in expanding the range and quality of data available internally and to clients through CZ App. Ben spent 3 months in CZ’s Singapore and Bangkok offices to expand his knowledge of the region and help roll out the latest data processes. He is now also responsible for the Sugar Market View published each week on CZ App.

More from this author