Dubai imports 100,000T sugar from India
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(AFP) |
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Dubai's Al Khaleej refinery has bought more than 100,000 tonnes of Indian raw sugar for 2008 shipment, its general manager Cyrus Raja said.
"These were recent new purchases in the last couple of weeks," Raja told Reuters via email.
"We have been seeing good selling interest from various sellers for Indian raw sugar and have recently purchased Indian raw sugar at FOB premium levels of around 80 points (loading at west coast)."
India, which used to be a net importer of sugar, has emerged as a major exporter on the world market and is competing as an origin against Brazilian supplies for the Dubai refinery, which traditionally took Brazilian sugar.
Al Khaleej has so far contracted to buy more than one million tonnes of Indian 2007/08 raw sugar in total. (Reuters)
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