London, March 16 - An average raw sugar price of 13-14 cents per lb looks justifiable in 2009 given the tight supply and assuming no big shifts in the exchange rate between Brazil's real and the dollar, a senior analyst at Rabobank said.
Andy Duff, head of food and agribusiness research at Rabobank's Sao Paulo office, told Reuters by an email sent late on Friday that he expected a global sugar deficit of 6 million tonnes in 2008/09. He had no forecast for 2009/10.
Benchmark ICE May raw sugar raw sugar futures were down 0.05 cent to 12.83 cents per lb at 1129 GMT.