Date
25 April 2018

Brazil sugar warehouse fire to hurt exports to China, paper says

A fire at six large Brazilian sugar warehouses on Saturday may affect the country’s sugar exports to China, National Business Daily reported Tuesday, citing an unnamed industry source. The blaze destroyed 180,000 metric tons of sugar belonging to Copersucar, the world’s largest sugar producer. Futures contract prices climbed 6 percent in the wake of the incident at the Port of Santos which is expected to take eight months to one year to return to normal operations. Sugar supply to China may be delayed or cut, the report said.

– Contact HKEJ [email protected]

TL/AC/RA

 

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