TRADE SAYS EC SUGAR TENDER HARD TO FORECAST
Traders here and in Paris said the
results of today's EC white sugar tender are hard to forecast
because of plans by a group of French, West German, Dutch and
Belgian operators to sell one mln tonnes of sugar into
intervention.
    London traders said bids for licences have been reported
between 43.00 and 44.00 Ecus per 100 kilos and if any licences
are granted they are likely to be towards the lower end of that
range, possibly 43.30/43.50 Ecus.
    Traders in Paris said they expect maximum rebates of
between 43 and 43.50 Ecus.
    Other than the Commission releasing no sugar for export,
the likely tonnage is expected to be very small, the London
traders said, while the French sources declined to estimate
volume in view of the psychological impact of the planned sales
into intervention in protest against EC export policies.
    Last week licences for 60,500 tonnes were awarded at a
maximum rebate of 43.147 Ecus.
 REUTER
