News International Sugar Journal

Brazil – Copersucar basks under force majeure notices following fire at its Santos Port terminal [Registered]

Brazil’s largest sugar trader issued force majeure notices to third party exporters of sugar with contracts to ship through its Santos Port terminal that burned down on 18th October. Force majeure is a legal term referring to unforeseen catastrophic events freeing companies of contractual liabilities because events outside its control prevent it from honouring obligations. That is, Copersucar can legally walk away from deals to deliver sugar. But it is too early to say whether there will be serious legal wrangles. With the contracts written under English law, commodity lawyers in London are being kept busy Reuter reports that Bunge…

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