May 19, 2006	Friday	Rabi-us-Sani 20, 1427

LONDON, May 18: London white sugar futures fell on speculative and possibly producer selling against trade buying at midday on Thursday and risked further falls, and the trade focused on an EU sugar export tender.

Benchmark August was down $2.80 or 0.58 per cent to $483.00 per ton in volume of 1,119 lots at 1041 GMT, after trading from $484.00 to $479.60.

The European Union is expected to grant export rebates for 50,000 to 60,000 tons of white sugar at its regular tender on Thursday, traders said.

They forecast a maximum export rebate of 26.868-26.968 euros per 100 kg, compared with a theoretical maximum of 30.478 euros.

Traders said white sugar futures could fall further on speculative selling, especially if selling persists across the commodities complex. * Pakistan’s TCP tenders for 50,000 tons sugar. —Reuters