Brazil's Cosan sees sugar jumping 34 pct in 2 yrs

Newswire

SAO PAULO, June 24 (Reuters) - Surging demand for sugar and ethanol should push sugar futures up by about a third in the next two years to 17 cents per lb, top Brazilian producer Cosan said on Tuesday. The benchmark October raw sugar contract at the ICE fell 0.16 cent on Tuesday to end at 12.71 cents per lb. Cosan said current prices were too low to drive up output enough to meet rising world demand for sugar and ethanol. Brazil is the world's largest sugar producer but the industry's ...

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