S U GA R Surplus to vanish

International sugar prices dropped by 1% last week but are still up almost 4,5% in the year to date. Interest in sugar is rising as the global surplus of the past five years is expected to vanish by 2016. Concerns about supply from Brazil have arisen as rainfall in that region was lower than usual, which may hinder plant development. In the previous week more than 10 000 contracts changed hands on the US ICE futures exchange, lifting the price by more than 5%.