December 3rd, 2012

Sugar futures jumped the most in two weeks on signs of declining output in India, the world’s second-biggest producer.

The Indian Sugar Mills Association said today that production of 2.33 million metric tons in October and November was down 2.5 percent from a year earlier because of crushing delays in Uttar Pradesh. The group has pegged the harvest at 24 million tons, down from 26.3 million in the season ended Sept. 30, while UBS AG has said output may be as low as 23 million tons.

On ICE Futures U.S. in New York, raw sugar for March delivery climbed 2.1 percent to 19.75 cents a pound, the biggest gain for a most-active contract since Nov. 19.

Cocoa futures for delivery in March advanced 0.8 percent to $2,519 a metric ton.

Cotton futures for March delivery added 0.1 percent to 73.98 cents a pound.

Arabica-coffee futures for delivery in March gained 0.1 percent to $1.507 a pound on ICE.

Orange-juice futures for January delivery fell 0.7 percent to $1.224 a pound.

- Thomas Galatola Bloomberg.