ICE raw sugar down as world deficit seen easing.

Raw sugar futures contracts were down on the ICE, as the global supply deficit is expected to ease. The benchmark May raw sugar contract on the ICE was down 0.9% at $18.97 cents a pound. The world supply deficit may narrow because India may not import more sugar this year as expected, and stick to the approved import of 500,000 tonne raw sugar. The government is expected to allow import of white sugar on the likelihood of an El Nino event in 2017.