Chinese buyers are currently loading several ships in Brazilian ports with over 750,000 tons of sugar, the first large import activity from the Asian country in 2023. China has traditionally been the world’s leading sugar importer. In 2023, the country’s import market has been fairly calm. China only imported 170,000 tons of sugar from Brazil in the first half, compared to 1.35 million tons in the same period last year. According to an independent sugar expert, Claudiu Covrig, Chinese purchasers closed on an even bigger number of total imports, primarily from Brazil, as the country is often the sole major exporter in the second half. Covrig expects that the negotiations will total 3 million tons, with shipments scheduled until December.
Sources: WILLIAMS/Reuters/Notícias Agrícolas (*Translated by Ia Niani)