ICE sugar at 16-month low on hopes of higher output.

October contract of raw sugar on ICE low of 13.14 cents/pound due to expectations of a rise in global output in 2017-18. Sugar production from cane in China, India, and Thailand is expected to increase in 2017-18, said ABARES. Most active October contract of raw sugar on the ICE traded at 13.29 cents a pound, up 0.2% from the previous close.