RIO DE JANEIRO, BRAZIL - Raw sugar futures on ICE rose on Friday, with investors encouraged to close deals after prices hit their lowest level in 3 1/2 weeks last session, while coffee retreated.
Raw sugar for March closed up 0.24 cents, or 1.3%, at 18.23 cents a pound, having hit its lowest level since January 10 on Thursday at 17.77 cents.
Traders said sugar will struggle to rise above 19 cents because of good crop prospects in major producers India and Thailand, as well as expectations that even top producer Brazil should recover from . . .