Chinese commodities trading company Cofco International delivered 900,000t of raw sugar to the ICE exchange when the contract expired in May, a very large amount of product from a single company, traders said on the 28th of April. All of the sugar that is being delivered by Cofco is of Brazilian origin.

It is estimated that at least 15 Panamax-sized ships, each with a capacity of 60,000 tons or more, will be needed to carry all the sugar that the Chinese company is delivering.

Cofco has a large sugar operation in Brazil with four mills and also buys sugar from other producers in the country for its marketing operations. The company also operates port terminal 12A, in Santos.

(Source: Money Times)