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ICE Sugar Fall as Recession Fears Grow

Author:JK Sucralose Inc.    Update Time:2011-08-09

 ICE Sugar Fall as Recession Fears Grow


ICE sugar futures fell on Tuesday, weighed by fears of a global recession as a rout in stocks continued, after ratings agency Standard & Poor's cut its U.S. rating late on Friday to AA-plus from AAA.

ICE October raw sugar futures dipped at the market opening, trading around 15 percent off the contract high of 31.68 cents a lb touched last month.

Dealers eyed large crops in producers including India and Europe.

October raw sugar on ICE was down 0.22 cent or 0.8 percent at 26.76 cents a lb at 0836 GMT.

Thailand, the world's second-biggest sugar exporter, is expected to produce at least 9.2 million tonnes of the sweetener in the current 2011/12 crop, a senior official at the Office of Cane and Sugar Board (OCSB) said on Tuesday.

October white sugar on Liffe up $1.90 or 0.3 percent to $712.40 per tonne.