London, April 11 - A senior Morgan Stanley agricultural commodities trader said on Friday raw sugar prices could more than double to 28-30 cents a lb within two years.
Jean Bourlot, a London-based managing director and head of agricultural trading, told Reuters sugar prices were historically cheap and were likely to surge due to buoyant demand for sugarcane-based ethanol and falling sugar output in India.
ICE May raw sugar futures stood at 12.50 cents a lb, down 0.02 cent or 0.16 percent, at 1422 GMT.