April 27, 2018 / 7:56 AM / 25 days ago

Alvean signs long-term raw sugar contract with Al Khaleej

LONDON, April 27 (Reuters) - Sugar merchant Alvean said on Friday it has signed a long-term raw sugar sales contract with Dubai’s Al Khaleej Sugar, owner and operator of the world’s largest sugar refinery.

Al Khaleej has had a long-term relationship with one of Alvean’s shareholders, Copersucar, for nearly two decades.

“The relationship, now lying with Alvean, has been further strengthened with the entry of this long-term raw sugar procurement contract,” Al Khaleej Managing Director Jamal Al Ghurair said in a statement.

Alvean, the world’s largest sugar trader, is a joint venture formed by U.S. agricultural group Cargill and Brazil’s Copersucar in 2014. (Reporting by Nigel Hunt; editing by Jason Neely)

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