Raw sugar futures settled slightly higher Thursday on trade buying tied to steady consumer interest in the market, analysts said. Over the past few sessions, the market would lose ground as speculative accounts liquidated positions in the front March contract before it expires on February 28. But further declines would be pared by trade buying in sugar. The New York Board of Trade's March raw sugar contract rose 0.05 cent to conclude at 8.93 cents a lb, dealing from 8.84 to 8.98 cents. May sugar added 0.06 to 9.30 cents. Back months increased 0.08 to 0.10 cent.

Fundamentally, analysts said, a supply deficit in the sweetener coupled with robust demand from major consumers like Pakistan and India kept values buoyant.

Copyright Reuters, 2005