• In CS, 433kmt of raws were nominated this week; 
• Situation at the ports is gradually improving; 
• Inland terminals are still suffering with high stocks.  

CS Brazil Monthly Exports  

• This week, 433kmt of raws were added to CS line up; 
• Total nominations for October stands at 1.74mmt;  

• For the first time this season, monthly exports could be significantly higher yoy; 
• Assuming an average line up next week, October exports could reach the estimated volume at 1.9mmt; 
• With successive strong line ups, the pressure in the logistical system is starting to ease off; 
• Sugar delivery at the ports is normalizing, but the inland terminals remains full; 
• Situation is expected to gradually improve over the upcoming days. 

Destinations   

• This week, 116kmt were nominated to Bangladesh – total offtake in Q4 stands at 204kmt; 
• For Iraq, 41kmt – total nominations this quarter stands at 287kmt, making the country the main offtaker of CS sugar so far in Q4’19. 

Summary Table