WILLIAMS  SA

June 2010 Brazilian Shipments

According Williams SA, Brazil shipped a total of 2,284,667 tonnes of sugar (2.135 million raws/149,600 whites) in May from both the center-south and the north-east. This compares with 1,235,800 tonnes shipped in May 2010 and 1,911,871 million tonnes shipped in June of last year. 

Center-South

Center-south shipments in the month totaled 2,226,315 tonnes, of which 2,076,715 tonnes was raw sugar and 149,600 tonnes were white sugar.  The compares with 2,105,695 tonnes shipped last month (2.083 million tonnes of raws and 23,026 tonnes of whites) and 1,740,711 tonnes in June 2009 (1.589 million tonnes of raws and 152,050 tonnes of whites).

The major destinations for the raw sugar exports were as follows:

·          Black Sea: 258,900 tonnes (563,655 tonnes this crop [2.953 million last year])

·          India: 275,380 tonnes (461,151 tonnes this crop [3.873 million last yr)

·          China: 135,009 tonnes (347,694 tonnes this crop [45,500 tonnes last yr.])

·          UAE: 306,410 tonnes (456,616 tonnes this crop [1.245 million last yr])

·          Venezuela: 130,700 tonnes (253,178 tonnes this crop [664,222 tonnes last yr])

·          Iran: 101,500 tonnes (268,080 tonnes this crop [492,305 tonnes last yr]

There were also a total of nine destinations that took between 50,000 tonnes and 100,000 tonnes as the Brazilian shipments were well spread. The major receivers were concentrated around the Indian Ocean and the Far East, representing over 50% of the total raws shipped. The least surprising was the UAE, who ran their stocks down when sugar traded at premiums in the first quarter of the year and have taken 516,887 tonnes over the last three months. It is surprising the quantity of sugar moving to the Black Sea considering the Russian market is almost closed due to the increased import duty. The raw sugar also included 34,000 tonnes shipped to the USA and this is likely to be Tier-2 imports thereby paying the 15.35 cent/ lb import duty.

This brings total shipments from the center south in May/June to 4,332,010 tonnes with 4,159,384 tonnes of raws and 172,626 tonnes of whites. This compares with 3,411, 240 tonnes shipped in May-June last year (3.145 million tonnes raws and 266,050 tonnes whites). Exports are already 920,770 tonnes ahead of last year. Therefore, based on the Job Economia estimate, the Brazilians have already shipped 35% of their expected additional exports in 2010/11, although Indian and Russian buying should slow down. The other interesting fact is that white exports are lower, in spite of premium being about $60 higher. This aids the view that the Brazilians are concentrating on producing raw sugar, as production time for raws is much quicker than white sugar.

North-East

North eastern sugar shipments in June totaled 58,351 tonnes of raws all shipped to the USA. This compares with 130,104 tonnes shipped last month which was all raw sugar and 171,160 tonnes shipped last year. This brings total shipments in September/June to 2,172,693 tonnes compared with 2,813,284 tonnes last year.

Contact Information

JSG Commodities

(203) 853 3000

16 South Main Street
Suite 202,
Norwalk, CT 06854

Frank Jenkins
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Ken Lorenze
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Jeff Dobrydney
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Eric Bergman
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Stephen Ward
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Chris Cody
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Diana Nguyen
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