Sucden Financial raised estimate for global surplus sugar for 2017-18 (Oct-Sep) to 3.5 mln tn vs 3 mln tn pegged earlier due to expectations of a fall in consumption. Raw sugar prices, which fall to 13.36 cents a pound are expected to recover in the long term as they are nearing ethanol parity. A fall in sugar prices incentivises millers to shift to ethanol production instead of sugar. July contract on ICE down 0.7% at 13.52 cents a pound.