Raw sugar delivered against the expiring March futures in New York may be as much as 1 million metric tons, according to ABN Amro Markets U.K. Ltd.
The sweetener will probably come from Brazil, Central America , Thailand, and there is a possibility it will come also from India, said James Kirkup, a broker at ABN Amro told Bloomberg.
Raw sugar for March delivery was 0.76 cent. The March contract expires today on ICE and the first notice for delivery is tomorrow. Cargill Inc. took delivery of almost 1 million tons of raw sugar after the March 2011 contract expired on ICE.