LONDON: White sugar futures on ICE rose on Monday with the October contract showing the largest gains in the run-up to its expiry next week, while London cocoa and robusta coffee futures eased.
Raw sugar, arabica coffee and New York cocoa futures contracts were closed on Monday for the Labour Day holiday.
October white sugar ended $4.50, or 1.3%, higher at $359 a tonne.
Dealers said the market was regaining some ground after falling to a six-week low of $350.30 on Thursday, boosted partly by talk of a pick-up in interest in taking delivery.
The October contract is due to expire on Sept. 15.
Dealers noted news that India is set to maintain sugar export subsidies in the 2020/21 season in a bid to reduce surplus stocks and ensure domestic prices don't fall below a government benchmark.
Analysts Green Pool said in a weekly update that India's sugar exports had progressed well in 2019/20 with buyers including Iran, Indonesia and Malaysia.
"While the Indian sugar industry is seeking clarity on the 2020/21 export subsidy (both quantity and amount of the subsidy), it remains optimistic regarding the capture of regional raws demand," Green Pool said in a note.
December London cocoa ended 13 pounds, or 0.7%, lower at 1,783 pounds per tonne, retreating further from last week's three-month high of 1,832 pounds.
Above-average rainfall last week in most of Ivory Coast's cocoa-growing regions will boost chances of a longer and larger October-to-March main crop, farmers said on Monday.
November robusta coffee finished $17, or 1.2%, lower at $1,427 a tonne.
Dealers said the market had lost its recent upward momentum after failing to breach key resistance on Friday and the market may be set to retreat further in the short term.
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