News International Sugar Journal

Cargill taking big sugar delivery to pre-empt supply shortfall [Registered]

Cargill said that its sugar business took delivery of almost 1 million tonnes of the sweetener as part of transactions involving expiring contracts at ICE Futures US and handled by a unit of JPMorgan Chase & Company. JPMorgan Futures accepted delivery on 18,748 ICE futures contracts, or the equivalent of 952,398 tonnes, from five brokers, the New York exchange said on 1 March. The delivery was the biggest for ICE since 2009. Abah Ofon, analyst at Standard Chartered, said agricultural prices have a “lot of risks to the upside. When there’s a risk of supply disruptions, a lot of users…

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