ICE Sugar Futures Rise on Reduced Supplies

ICE Futures said on Monday that 313,050 tonnes of white sugar had been tendered against the March contract, with supplies due to be loaded in the United Arab Emirates, confirming earlier trade reports. In the sugar market, dealers said the presence of more than 200,000 tonnes in the UAE against last Friday's expiry of the March contract suggested that Dubai's Al Khaleej refinery is restocking raw sugar. At Wednesday's close, the most active March raw sugar contract on ICE Futures settled up 0.07 cent, or 0.53 percent, at 13.22 cents per lb. New York raw sugar futures are likely to remain supported by concerns about production setbacks, while the performance of Brazil's real against the U.S. dollar is also a factor to watch, a commodities analyst said on Thursday. The resistance levels on the ICE Futures U.S. raw sugar futures chart are at 13.70 cents and 14.20 cents per lb, while supports are at 12.70 cents and 12.20 cents per lb. Freddy/VMN/VBN/Analyst-Vibiz Research Center
Editor: Asido Situmorang http://vibiznews.com/2016/02/17/harga-gula-ice-menguat-dengan-penurunan-pasokan/