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Outlook for Low Supply Boosts Coffee & Sugar Prices

October 19, 2010 at 22:20 by Vladimir Vyun

Coffee gained today on concerns that stockpiles in Vietnam are running short and production in Columbia may dwindle. Vietnam, the largest grower of Robusta coffee, has less than 500,000 bags of unsold coffee before the new harvest, while inventories had somewhere between 2 million and 2.5 million bags in the same period last year. Output in Columbia, the second-largest producer of Arabica coffee in the world, may decrease in the next year because of excessive rains and a fungus that harms plants. January delivery for Robusta coffee rose $38 (2.3 percent) to $1,718 per metric ton as of 12:52 on NYSE Liffe. December delivery for Arabica coffee went up $0.006 (0.3 percent) to $1.862 per pound on ICE.

White sugar also rose today on speculation that Russia may increase its imports of the sweetener. Russia’s imports of raw sugar may jump as much as 300,000 tons before end of this year. December delivery for white sugar gained $2.70 (0.4 percent) to $698 per ton on NYSE Liffe.

If you have any questions and comments on the commodities today, use the form below to reply.

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