Futures contracts of raw sugar on ICE rose to a two-month high of 15 cents a pound as Brazil may withdraw the recent hike in tax on ethanol, which would subsequently trigger demand for the bio-fuel. Brazil had last week increased taxes levied on gasoline by 0.41 Brazilian real per ltr and on ethanol by 0.2 Brazilian real. Millers in key cane-producing countries like Brazil have a choice between producing sugar and ethanol. The benchmark October raw sugar contract on ICE traded up 0.6% at 14.99 cents a pound.