LONDON: ICE raw sugar prices rose 3% on Thursday but remained firmly within recent ranges as traders awaited news from India on its sugar export policy.
March raw sugar rose 0.5 cents, or 3.5%, to 14.99 cents per lb by 1400 GMT, reversing three consecutive days of losses.
India, a top sugar producer, is reportedly targeting sugar exports of 6 million tonnes this season.
December white sugar, which expires on Friday, rose $10, or 2.5%, to $407.40.
December arabica coffee rose 1 cent, or 0.9%, to $1.1015 per lb.
Brazil exported 4.1 million bags of coffee in October, including green, soluble and roasted coffee, 11.5% more than in the same period last year and a record for the month, trade group Cecafe said.
January robusta coffee rose $23, or 1.7%, to $1,416 a tonne.
Fresh coffee supply from Vietnam’s 2020/21 robusta harvest has yet to pick up because heavy rains in key growing areas over the past month have disrupted cherry picking, traders said.
March New York cocoa fell $31, or 1.3%, to $2,343 a tonne after gains in the previous session. March London cocoa fell 9 pounds, or 0.6%, to 1,602 pounds a tonne.—Reuters
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