China imported a record amount of sugar last year in what is one positive for the dry bulk sector, as much of it is shipped from Brazil.
The world's largest buyer of sugar imported 4.85 million tonnes in 2015, 39% up on the previous year, and slightly higher than the previous record of 4.5 million tonnes in 2013.
"Improving living standard and urbanisation have been the main drivers of the increase in sugar consumption," says Ralph Leszczynski, head of research at shipbroker Banchero Costa in Singapore.
Sugar
