Libya pushes back sugar tender until 2002
Libya has rescheduled its tender for the purchase of white sugar until January 2002. Libyan officials have refrained from offering an explanation for the change of plans. The tender was initially issued this past September with an expected 60,000-90,000 metric ton shipment of white sugar to follow in November on a Free On Board Basis, reported Reuters.
Free On Board Refers to the point at which the responsibility of exported goods passes from seller to buyer. The buyer becomes responsible for goods in transit and for filing any freight claims.
Agricultural analysts have estimated Libya’s sugar imports at 230,000 tons for 2002, up from 225,000 tons in 2001. Libyan traders have shown flexibility regarding the source of the imported sugar, with Brazil being a potential point of origin now that recent forecasts predict a low production level for the European Union in the first quarter 2002. — (menareport.com)
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