- Waiting times for raw sugar vessels to berth at Santos in Brazil were less than 2 days in July.
- This is a record low for this time of the year and highlights how poor physical demand for raw sugar has been recently.
- High sugar prices, a very low white premium and rising bulk freight costs have led to demand being lost or deferred until later in the year.
- This is a stark contrast to the raw sugar futures market which have been rallying thanks to concerns around the impact of frost on CS Brazilian cane crop.
- The waiting time has increased slightly for August after sellers offered large discounts due to port storage concerns.
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