Sugar Futures Decline on Speculation Indian Exports to Add to Global Glut

(Bloomberg) -- Sugar fell in New York on speculation
that India, the second-largest producer, may offer to sell
unrefined supplies of the sweetener, adding to a global surplus.

Investors and traders expect India to issue a tender on
July 23 for up to 265,000 metric tons of raw sugar, according to
a report yesterday by BNP Paribas Commodity Futures Inc. in New
York. Until recently, India only exported white, refined sugar. A
record crop in India may lead the country to double total
exports, a minister said last week.


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Sugar Rises to Three-Month High on Outlook for Increased Ethanol Demand

(Bloomberg) -- Sugar jumped to a three-month high in
New York on speculation that rising crude oil prices may spur
demand for sugar-based ethanol, an alternative to gasoline.

Crude oil approached an 11-month high in New York after an
Energy Department report showed U.S. gasoline inventories
unexpectedly fell last week. Brazil, the world's largest sugar
grower, is using an increasing percentage of its record cane crop
to make ethanol.


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Nigeria to cut sugar imports to 30 percent by 2010

(Reuters) - Nigeria should cut sugar imports in the next three years to cover 30 percent of its usage as it aims to become 70 percent self-sufficient through local production of the sweetener, authorities said on Monday.

The National Sugar Development Council said the inflow of 120.3 billion naira in new investment in the last eight years, 99.5 billion naira of which came from abroad, has helped revive the formerly moribund sector.


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Sugar Rises as Brazilian Ethanol Production Reduces Output of Sweetener

(Bloomberg) -- Sugar in New York rose to a 12-week
high as mills in Brazil, the world's biggest producer, use more
sugar cane to make ethanol instead of the sweetener.

The center-south region of Brazil produced 5.4 million
metric tons of sugar this year as of June 15, down from 6 million
tons at the same point last year, the London-based International
Sugar Organization said today in an e-mailed report. Ethanol
output jumped 10 percent to 4.2 billion liters, the group said.


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