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Brazilian sugar export down to 5-year minimum
26.07.2019 23:04 "Agro Perspectiva" (Kyiv) —
As of this year Jul, within the Brazilian sea ports, the queues for the sugar vessel loading have shortened to a minimum within the last five years, as the Brazil sugar plants have much reduced their sugar export due to unfavorable global prices, Ukrainian National Association of Sugar Producers says referring to the Reuters report.
As to the report, the experts affirm within this year Jul, the Brazilian sugar plants will load about 745,000 tons sugar to the vesels within the country sea ports, down 28% against Jul 2018 and down 63% against Jul 2017 (it is to be admitted, 2017 is considered a year of typical Brazil sugar output rates).
In meanwhile, experts admit so far the global sugar demand has not fallen, but the global market competition has much strenthened and so the Brazilian sugar plants would have to considerably decline their sugar export prices in order to retain the previous years export lots - but they are not eager to decline their export prices.
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