Raw sugar prices settled lower Friday as trade sales and speculative profit-taking dragged the market down after it had surged to a three-week high in the previous session, brokers said.
But analysts said a revival in consumer demand will keep prices supported although the next week would probably be dominated by expiration of the July contract on June 30.
The New York Board of Trade's July raw sugar contract dropped 0.30 cent or 1.9 percent to end at 15.45 cents per lb, dealing from 15.42 to 15.71 cents.
Technicians feel support in the October contract was at 15.90 and 15.50 cents, with resistance at 16.50 and 17 cents.
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