São Paulo – Brazilian sugar exports to the Arab countries grew 51% in value in January this year as against the first month of 2011. Figures disclosed by the Ministry of Development, Industry and Foreign Trade show that revenues with sales reached US$ 341.9 million in the period, as against US$ 226.6 million in January 2011. The volume shipped grew at a similar rate in the period, 47.6%, to 574,700 tonnes, as against 389,100 tonnes.
The similar growth in volume and revenues halts a movement that had been taking place in the past, when the volume of Brazilian sugar shipped to the world dropped, but revenues grew due to the constant price hikes. Sugar lived a long period of high prices, but, currently, most international consultants in the area forecast a reduction in the commodity’s price.
The reason for a new scenery in the global sugar market is mainly the production, which should grow 4.2% this year, according to projections by Barclay Capital, resulting in a surplus. The panorama may also change, however, as there is uncertainty about the crop in the main sugar producers. This uncertainty has been generating volatility.
In the Arab world, the main buyer of Brazilian sugar in January was Egypt. Sales totalled US$ 96.6 million, against US$ 33.8 million in the same month in 2011. Saudi Arabia imported US$ 64 million, the Emirates, US$ 55 million, Morocco, US$ 39 million, Yemen, US$ 31 million, Algeria, US$ 21 million, Iraq, US$ 15 million and Tunisia, US$ 8 million. Other countries that also purchased were Mauritania, Lebanon, Libya and Jordan, but at lower values.
*Translated by Mark Ament
