NY sugar may average 14.7 cents/pound in June

Raw sugar prices in New York may average 14.7 cents a pound in the June quarter and trade in a 13 cent to 16 cent band for the remainder of the year, Commonwealth Bank of Australia said in a report today. Further declines were expected in the first half of 2011 and prices may average 11.2 cents in the June quarter of next year, the report said.