ICE raw sugar down 3% as 2017-18 output seen up.

Futures contracts of raw sugar fell sharply on the ICE due to expectations of a higher output globally in 2017-18, largely helped by a rise in production in Brazil. Mills in Brazil’s Centre South region produced 2.38 mln tn sugar during the first fortnight of June, up 97.8% from 1.20 mln tn produced a year ago.