Brazilian Sugar for Loading on Waiting Ships Rises 42% on Rains

By Isis Almeida - Apr 27, 2012
BLOOMBERG
The amount of Brazilian sugar to be loaded on ships waiting at the country’s main ports rose 42 percent from a week ago after rains halted operations, according to SA Commodities.

Vessels were waiting to load 705,000 metric tons as of yesterday, the Santos, Brazil-based consultancy said in an e- mailed report. Heavy rains were forecast for this week in sugar cane-producing areas in the states of Parana and Sao Paulo, weather forecaster Somar Meteorologia said in a report e-mailed on April 23.

“Loading operations are paralyzed for now in Santos, as a heavy rain arrived,” Luiz Carlos dos Santos Jr., head of sugar brokerage and operations at SA Commodities, wrote in the report. Santos is Brazil’s biggest port.

Rains this week prevented the start of the new crop in Brazil, the world’s largest sugar producer, according to Somar. Harvesting is likely to begin May 1, after rains stop, Sao Paulo-based broker ICAP do Brasil Ctvm said in a report e-mailed April 25.

Cane output in center south, the nation’s main producing region, may climb to 509 million tons in the 2012-13 season, industry group Unica estimates. Output fell for the first time in a decade in the prior period to 493.3 million tons as dry weather, frost and flowering reduced yields, it has said.