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FINANCIAL NEWS
Libya ramps up sugar imports: Reports
01 Oct 2012
(MENAFN) Libya has boosted its imports of white sugar to fill up supplies exhausted during last year’s war and to stem unrest in the oil-rich country, Reuters reported.
Some 280,000 to 290,000 tonnes of white sugar was consumed by the North African nation between 2008 and 2010, according to industry association the International Sugar Organization (ISO).
Last year, purchases dropped to 123,000 tonnes, from 296,000 tonnes in 2010, the ISO said.
Some 30,000 tonnes of white sugar had been shipped from Brazil to Libya in recent weeks with a further cargo of nearly 30,000 tonnes of raw sugar on the way, according to a port loading data.
A cargo of 26,000 tonnes of white sugar was due to be dispatched from Brazil in coming days, port loading schedules showed.
Dealers noted a larger-than-usual lineup of vessels at Brazilian ports this month loading bagged white sugar bound for Libya.
Other dealers reported a jump in raw sugar imports to North African countries such as Egypt and Morocco this year, some of which they believed had been trucked across to Libya after refining.
Brazil exported 59,000 tonnes of sugar to Libya in 2010, before the revolution, down from 103,000 tonnes in 2009, according to the ISO.
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