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EC SUGAR TENDER HARD TO PREDICT - LONDON TRADE
The outcome of today's European Community
(EC) white sugar tender is extremely difficult to predict after
last week's substantial award of 102,350 tonnes at the highest
ever rebate of 46.864 European currency units (Ecus) per 100
kilos, traders said.
Some said they believed the tonnage would probably be
smaller, at around 60,000 tonnes, but declined to give a view
on the likely restitution. Last week, the European Commission
accepted 785,000 tonnes of sugar into intervention by operators
protesting about low rebates. This might be a determining
factor in today's result, they added.
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