IRAN: Private buyer goes in for 80,000 tonnes raws
Published: 03/09/2010, 8:23:18 AM
A private buyer in Iran has purchased 80,000 metric tonnes of raw sugar from international trade house Bunge, according to Dow Jones.
The purchase, combined with Egypt's state sugar buyer's purchase of 90,000 tonnes of raw sugar at the weekend, could indicate that historically high sugar prices haven't yet resulted in demand destruction, said the trade source.
While there are restrictions on US companies dealings with Iran in the energy sector, licensed exports of agricultural commodities to Iran are permitted, according to the US Department of the Treasury Office of Foreign Assets Control.