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UPDATE 2-October raw sugar delivery totals 1.1 million tonnes –ICE
October 2, 2017 / 1:42 PM / 2 months ago

UPDATE 2-October raw sugar delivery totals 1.1 million tonnes –ICE

 (Adds Raizen comment in 3rd paragraph, company background and
sugar price)
    NEW YORK, Oct 2 (Reuters) - Wilmar International Ltd
         , Alvean and Raizen Energia S.A. 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.
    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.             
    A Wilmar representative did not respond to a request for
comment. An Alvean spokeswoman and a Raizen spokesman confirmed
that the respective companies 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. 
    Alvean is a joint venture between trade house Cargill Inc 
          and Brazilian cooperative Copersucar. Raizen, a joint
venture between Royal Dutch Shell and Brazil's Cosan, started a
venture with Wilmar last year to trade sugar.
    Benchmark ICE March raw sugar futures        settled up 0.21
cent, or 1.5 percent, at 14.31 cents per lb on Monday, though
traders said the larger-than-expected delivery against the
October contract was viewed by many as bearish.

 (Reporting by Chris Prentice; Additional reporting by Marcy
Nicholson; Editing by Lisa Von Ahn and James Dalgleish)
  

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