NEW YORK: More than 1.6 million tonnes of sugar were sold against the ICE July raw sugar futures contract, exchange data showed on Monday, confirming traders' expectations reported on Friday and marking the second-largest delivery on record.
ICE July raw sugar delivery totaled 31,755 lots, or 1,613,230 tonnes, the Intercontinental Exchange Inc
said. That was the second-biggest delivery based on records dating back to 1989 and the largest for the July contract.
The sugar, worth about $292.5 million based on Friday's closing price, came from top grower Brazil, ICE data showed.
ED&F Man purchased 19,092 lots, the data showed.
Traders said Wilmar International Ltd and Bunge Ltd were also buyers, and that the bulk of the sugar was to be delivered by COFCO Group. The companies did not respond to requests for comment.
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