Brazil exports 200,000 tons of sugar to Russia

RIO DE JANEIRO, BRAZIL – Brazil exported nearly 200,000 tons of raw sugar to Russia this week. At least five ships departed with double the amount the Eastern European country normally imports annually.

Sanctions imposed on Russia following the Ukraine conflict have increased the demand for sugar and other staples in the country. As a result, supermarket shelves are already empty due to stockpiling.

Supplies to Russia and Georgia have been loaded onto ships backed by three European food traders and a Brazilian company: Sucden, Louis Dreyfus Co and Tereos in Europe, and Raízen in Brazil.

Analysts, however, say security problems in the Black Sea could hamper the ships, and sanctions could make it harder for shippers to get paid for their cargoes.

With information from Reuters

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