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Fire Engulfs Up to 300,000 Tons of Sugar at Brazil Port

A fire on Friday destroyed up to 300,000 tons of sugar and much of the Santos Port warehouses owned by Copersucar, the world's largest trader of the sweetener, the port authority of Santos said. Copersucar says nearly a fifth of the world's sea-borne sugar trade flows through its trading desks. ICE March raw sugar prices rose more than six percent to a one-year high on news of the fire, before paring gains. By 8:40 a.m. ET the contract was up three percent at 19.58 cents ...

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