According to analysts, sugar futures could fall next week on the uptick in inventories. Brazil, the world's biggest sugar producer, is expected to post an increase in output as beneficial weather has helped farmers reap a larger-than-expected harvest. Bloomberg News polled 16 traders about the potential for sugar futures to fall and 12 of them asserted prices could fall in New York next week.
Of the traders surveyed, only four projected prices to rise next week. Before Friday, sugar futures declined 7.3 percent for the week on steadily increasing global inventories. Sugar traded in London would fall next week, according to 11 of the traders; four picked sugar futures to climb, while one person forecast they'd remain relatively unchanged.
On the New York Mercantile Exchange on Friday, sugar futures for July delivery were up 1 percent to trade at 23.3 cents per pound.
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