PHOTO
Bags of white sugar are displayed in a supermarket in Jakarta March 12, 2013. White sugar prices hit a record in Indonesia last summer and further spikes are expected this year even though the world is awash with the sweetner. The main cause, say critics, is a small group of traders known in the industry as sugar samurai. Picture taken March 12, 2013. To match Insight INDONESIA-SUGAR/SAMURAI REUTERS/Supri (INDONESIA - Tags: BUSINESS COMMODITIES) - RTXXW99
Global sugar prices are likely to remain high due to expectations of lower output in India, French trading group Sucden said on Friday, adding that prices may trade between 22 and 30 cents per lb in next 12 months globally.
"Prices are probably going to stay strong," Jeremy Austin, general director of Sucden Brazil said on the sidelines of a sugar conference in New Delhi. (Reporting by Mayank Bhardwaj; Writing by Shivam Patel; Editing by Christina Fincher)
