Raw sugar futures on ICE surged on Tuesday, lifted by speculative fund buying as possible delays to exports from India heightened concern about nearby supply tightness. Coffee and cocoa futures also settled higher, finding spillover buoyancy from a strong commodity complex. March raw sugar futures jumped 1.01 cents or 3.2 percent to close at 32.75 cents per lb.
Cocoa prices firmed, as the market built a base with support from industry buying after the risk premium linked to political tensions in top producer Ivory Coast eroded. March cocoa on ICE rose $53 to close at $2,934 per tonne. Coffee futures were also firm, building on the prior session's gains with concerns about the outlook for the 2011 crop in key producer Colombia helping to underpin the market. March arabicas on ICE rose 3.45 cents to settle at $2.3470 per lb.
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