• Nominations picked up this week with 500kmt added to the CS line up;
  • However, even with this volume September will end up with the lowest export figure in over 10 years;
  • Saudi Arabia was the main destination of the nominations this week with 140kmt.

Weekly Nominations   

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  • Despite the pickup in nominations this week – with 500kmt added to CS line up – September is expected to end with 1.6mmt of exports, the lowest volume in over 10 years; 
  • The higher volume seen this week is not due to the July delivery, since all of the nominations showed an ETA (estimated time of arrival) later than 15th of September – which is the last day of the delivery window; 
  • CS Brazil remains with a high availability of raw sugar, despite the second consecutive season of mills maximizing cane allocation to ethanol production. 

Destinations   

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  • This week, 140kmt were nominated to Saudi Arabia – total offtake in Q3 stands at 546kmt; 
  • For Bangladesh, a large volume this week as well with 110kmt nominated – total nominations this quarter stands at 307kmt; 
  • One vessel for China with 60kmt – cumulative exports to this destination this quarter totals 490kmt – for more details on recent developments in the Chinese sugar market, see our last analysis on import duties.  

Ana Zancaner

Ana graduated from Insper University Sao Paulo in 2013, with a bachelor’s degree in business administration. She joined CZ as an intern in 2013 and is now our senior analyst in our Sao Paulo office. At CZ she is responsible mainly for analysis of the Brazilian sugar and ethanol sector but supporting other consulting requests as well.

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