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FINANCIAL NEWS
Dubai’s sugar export forecasts low request
31 Jan 2016
(MENAFN) Dubai’s Al-Khaleej Sugar Refinery, the world’s main port-based refinery, was operating at only 70 percent of its capability due to slow physical demand for white sugar.
Furthermore, the whites-over-raws premium recorded over USD 110 per ton in the international market, trailed by strong import demand by China.
Additionally, the Al-Khaleej refinery has capacity of 7,000 tons a day but its underutilized as export prospects are weak, while it’s entering 2016 with more uncertainty.
Al-Khaleej exported 500,000 tons of white sugar to Iraq in 2014, whereas Iraq would stop imports or sophisticated sugar for a government food distribution program.
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