Al Khaleej Sugar Refinery working at full capacity
12 Feb 2017 - 23:28
Dubai: Dubai’s Al Khaleej Sugar Refinery, the world’s largest port-based refinery for the commodity, said yesterday it was operating at full capacity and expected to remain so for the next month.
Jamal Al Ghurair, managing director of the refinery, also added he was satisfied with the current levels of sugar white premiums, which have been averaging at around $90 a tonne. The whites-over-raws premium is a measure of refining profitability. “I think it is a good price to sell ... they should remain the same in the second half of the year,” he said in an interview on the sidelines of the Dubai Sugar Conference.
Ghurair also said Al Khaleej could choose to deliver sugar to ICE Futures as it did in late 2016, depending on the export market situation.
Al Khaleej said in November it had delivered 404,250 tonnes of white sugar against the ICE December futures contract, the largest ever quantity by a single deliverer. “It is a last minute option, but we can’t say at the moment if we will do it,” he said.