NEW YORK: The March raw sugar delivery against the ICE contract that expired on Friday totalled around 17,500 lots, or about 890,000 tonnes, according to preliminary information from traders. It was a smaller volume than a year ago, when the March delivery reached 18,820 lots. The largest ever delivery against this contract happened in 2017 at 23,665 lots, according to exchange data compiled by Reuters.
ICE registered the largest volume of deliveries ever last year, considering all contract months, with nearly 120,000 lots delivered, or more than 6 million tonnes.
Asian commodities trader Wilmar was seen as the sole receiver of the March sugar, the traders said. Among the largest deliverers were Louis Dreyfus, with 4,941 lots, and Sucden with 3,875 lots. Official data will be released by the exchange on Monday. According to the traders, origins of the sugar vary, but Brazil was seen as the main point of delivery despite being in the between-harvests period.