By M. Shankar April 22 (Bloomberg) -- Sugar fell in London and New York as the dollar strengthened and on speculation buyers are waiting for lower prices. Egypt’s state-run Sugar and Integrated Industries Co. canceled a tender to buy 50,000 metric tons of sugar because of high prices, Ramadan Suleiman, purchasing manager at SIIC, said today. SIIC won’t be issuing another tender for at least two weeks, he said. Sugar prices more than doubled last year as excess rains in Brazil and a weak monsoon in India curbed output in the world’s biggest sugar-cane growers. The International Sugar Organization forecasts an 8 million-ton shortfall in supply in the 12 months ending in September. White sugar for August delivery fell $4.70, or 1 percent, to $484.30 a ton as of 1:15 p.m. on the Liffe exchange. Raw sugar for July delivery slipped 1.7 percent to 16.41 cents a pound on ICE Futures U.S. in New York. “We saw a brief rally, which so far has stalled around yesterday’s high,” David Sadler, head of the sugar desk at Sucden Financial Ltd. in London, said in a report. Prices also slipped as the dollar erased a decline, making raw materials priced in the currency more expensive for holders of other monies. Output may rise to at least 23 million tons in the season starting Oct. 1 compared with an estimated 18.5 million tons this year, Vinay Kumar, managing director of India’s National Federation of Cooperative Sugar Factories Ltd., said April 20. Cocoa for May delivery slid 6 pounds, or 0.3 percent, to 2,233 pounds ($3,438) a ton on Liffe. Robusta coffee for May delivery climbed $3, or 0.2 percent, to $1,287 a ton. --With assistance from Ola Galal in Cairo. Editors: John Deane, Dan Weeks. To contact the reporter on this story: M. Shankar in London at mshankar@bloomberg.net. To contact the editor responsible for this story: Stuart Wallace at swallace6@bloomberg.net.

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