- Strong nominations this week with 460kmt of raws add to CS line up;
- Total nominations for January now stands at 900kmt;
- In NNE, 70kmt of whites were nominated;
Brazil Monthly Exports
- There was an increase in offtake this week, with 460kmt of raws added to the CS lineup;
- Total January nominations now stand at 900kmt;
- With 2 weeks to go, we believe that exports in January will fail to meet estimates;
- As a reminder, estimate of exports reflects the high availability of sugar in CS, and not necessarily a strong demand expected going forward;
- In NNE, this week 70kmt of refined sugar were nominated for bulk shipments – total refined January line up stands at 87kmt;
- Total raws nominations remains unchanged at 170kmt;
Destinations
- Out of the new nominations this week, 85kmt for Iraq – the first ones of 2020;
- For Algeria, 172kmt nominated – with 36kmt to be shipped out in February;
- And last, as main destination this week, 125kmt nominated to Bangladesh – which already has 301kmt nominated in Q1;
- Unfortunately, the refined nominations in NNE had no destination disclosed so far – it is possible it might be heading to the US , something that could be a first in 15 years;
Summary Table
