PORTS IN BRAZIL HAVE AN AVERAGE QUEUE OF 100 SHIPS WAITING TO LOAD SUGAR

Brazilian ports are facing a logistical crisis in sugar shipments, with an average of 100 ships waiting to load in the coming weeks, surpassing the 20-day wait. In Santos, the main sugar export port, the wait time has reached 23 days, well above the average of the last five years. Sugar exports in October dropped by 9% compared to a year earlier, raising concerns about the flow capacity. StoneX has pointed out that the situation is a result of the heavy rains in October. There are fears that this crisis could have an impact on the Brazilian supply, especially as there have been crop problems in Asia. The raw sugar futures market hit a 12-year high on the New York Stock Exchange, reflecting logistical concerns and impacts on Asian supply.
Source: Notícias Agrícolas (*Translated by Ia Niani)