DUBAI Feb 3 ICE benchmark raw sugar futures prices are likely to move in a range between 14 and 20 cents per lb for the coming year, Mike Gorrell, head of the Imperial Sugar Company, a unit of Louis Dreyfus Commodities, said on Sunday.
ICE front-month raw sugar settled up 0.11 cent at 18.89 cents a lb on Friday. That was well above the more-than-two-year low of 18.06 cents a lb touched on Jan. 23.
Gorrell gave the forecast in a keynote speech at the Feb. 2-5 Kingsman Dubai sugar conference, which gathered more than 600 sugar trade leaders from around the world. (Reporting by David Brough; Editing by Jeremy Laurence)