Wilmar receives 1.1 million tonnes from ICE October delivery
Published: 10/02/2017, 4:04:55 PM
Wilmar International, Alvean and Raizen scooped up 21,098 lots, or 1.1 million tonnes, of raw sugar against the October contract that expired on Friday, according to exchange data and traders, according to Reuters.
The sugar was due from Brazil, ICE Futures U.S. data showed on Monday. The data confirmed a Reuters report on Friday that more sugar than previously expected was tendered against the contract.
Wilmar and Raizen representatives did not respond to requests for comment. An Alvean spokeswoman confirmed the trade house bought sugar through the expiry.
Traders said Wilmar bought the bulk of the delivery, at 14,147 lots, with Alvean buying 5,967 lots and Raizen the remaining 984.
Benchmark ICE raw sugar futures were down 0.6% at 14.02 cents per lb by 9:29 a.m. EDT (1329 GMT) on Monday.