November 14, 2014

Record Breaking Sugar Shipment Leaving Brazil

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

A record breaking vessel loaded with sugar is about to set sail from Brazil. Bunge is setting a new record for the amount of sugar exported from Brazil in a single vessel. The Cape Size vessel called UBC Ottawa, is 260 meters long and loaded with 105,500 tons of granulated Brazilian sugar on its way to Dubai. It is carrying the equivalent of 2,640 semi-trucks full of sugar.

This is the first time that a vessel is leaving Brazil with more than a hundred thousand tons of sugar. The prior record was a vessel carrying 81,000 tons in 2006.

The vessel is departing from the Port of Santos and company and port officials feel it marks a new competitiveness for Brazilian sugar in the world market. Brazil is the world's largest sugar producer, but the sugar sector has been beset by poor weather and weak prices for several years.

Bunge is one of the largest sugar and biofuel producers in Brazil and one of the largest sugar traders in the world. The company exports more than five million tons of sugar not only from Brazil, but also from Thailand and Central America with destinations in China, Canada, and the Middle East.