(Updates with settlement prices)
NEW YORK/LONDON, Nov 12 (Reuters) – 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.
SUGAR
* March raw sugar rose 0.43 cents, or 3%, to settle at 14.92 cents per lb, reversing three consecutive days of losses.
* India, a top sugar producer, is reportedly targeting sugar exports of 6 million tonnes this season. Dealers said that, while the countrys sugar export subsidies are likely to be lower than last season, they should not be insignificant.
* Ahead of the news, the market is likely to consolidate within the range seen since the end of October, they added.
* December white sugar, which expires on Friday, rose $9.50, or 2%, to settle at $406.90.
COFFEE
* December arabica coffee settled up 1 cents, or 0.9%, at $1.101 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 settled up $20, or 1.4%, at $1,413 a tonne.
* Fresh coffee supply from Vietnams 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.
COCOA
* March New York cocoa settled down $18, or 0.8%, to $2,356 a tonne.
* Barry Callebaut, the worlds largest chocolate maker, on Wednesday said that sales volumes in the final quarter of its financial year to August recovered from a coronavirus-related slump. It added that solid financials supported the companys confidence in its mid-term guidance.
* March London cocoa was little changed at 1,611 pounds per tonne. (Reporting by Maytaal Angel; Additional reporting by Jessica Resnick-Ault in New York; Editing by Bernadette Baum, David Goodman and Uttaresh.V)read more
SOFTS-Raw sugar gains but remains in range ahead of India news – Reuters India
