ICE sugar rises on low Indian sugar production
Published: 03/06/2017, 4:13:33 PM
ICE May raw sugar rose 0.18 cents, or 0.9%, to 19.70 cents a lb, according to Reuters.
The market remained underpinned by signs that production in India could be below 20 million tonnes, with imports likely at some stage.
Tropical Research Services (TRS) said in a report on Monday that India's coastal refineries have been stocking up and much of any initial import programme would be met from stocks and existing bookings.
"Sugar imports by the port-based coastal refiners are running at a stronger pace than last year while the pace of exports is in line with last year," TRS said.
May white sugar was up US$4.10, or 0.8%, at US$546 a tonne