Raw and Refined Sugar Poised to Advance This Week, Survey Shows

By Marianne Stigset and Ron Day

Sept. 29 (Bloomberg) -- Raw sugar in New York and refined sugar in London may gain this week, a Bloomberg survey showed.

Eight traders, analysts and brokers surveyed last week forecast that raw sugar traded in New York would gain, with none predicting a decline. Raw sugar advanced 6.2 percent to 14.48 cents a pound last week.

Five surveyed said white sugar traded in London would also rise, and none expect it to fall. White sugar climbed 7 percent last week to $402.50 a metric ton.

Three said the premium of refined sugar over raw would narrow, two expected little change.

Bullish on raw sugar: 8 Bearish: 0 Neutral: 0
Bullish on white sugar: 5 Bearish: 0 Neutral: 0
Widening white premium: 0 Narrow: 3 Neutral: 2

To contact the reporters on this story: Marianne Stigset in Oslo at mstigset@bloomberg.net; Ron Day in New York at rday1@bloomberg.net.