Raw, refined sugar may fall in NY, London
Monday, 10 May 2010
LONDON, May 9 (Bloomberg): Raw- and refined-sugar futures may fall next week on signs of output gains in Brazil and India, the world's largest producers.
Seven of 13 traders, analysts and brokers in a Bloomberg survey said raw-sugar prices will drop next week in New York. Three predicted a rise, and three expected little change. Raw sugar fell to 13.67 cents a pound yesterday on ICE Futures US, its lowest level since April 23, 2009.
Five of 13 respondents said white sugar traded in London will fall, while four forecast a gain and another four expected no change. White, or refined, sugar fell 6 per cent this week to $442.50 a metric ton yesterday.
Refined sugar's premium over raw sweetener will widen, according to eight of the 13 people surveyed by Bloomberg. Two said the spread will narrow, while three expects it to be little changed.
Seven of 13 traders, analysts and brokers in a Bloomberg survey said raw-sugar prices will drop next week in New York. Three predicted a rise, and three expected little change. Raw sugar fell to 13.67 cents a pound yesterday on ICE Futures US, its lowest level since April 23, 2009.
Five of 13 respondents said white sugar traded in London will fall, while four forecast a gain and another four expected no change. White, or refined, sugar fell 6 per cent this week to $442.50 a metric ton yesterday.
Refined sugar's premium over raw sweetener will widen, according to eight of the 13 people surveyed by Bloomberg. Two said the spread will narrow, while three expects it to be little changed.