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Sugar Drops, Coffee Logs Gains

December 4, 2013 at 2:15 by Vladimir Vyun

Sugar declined today on signs of ample supply. India, the second biggest producer in the world, is ready to start turning sugar-cane into sweetener and Thailand is going to increase output. Meanwhile, the US Department of Agriculture predicted that global inventories may rise 0.5 percent to record 43.379 million tons by the end of the season. March futures for delivery of sugar dropped $0.0016 (0.94 percent) to $0.1681 per pound as of 2:05 GMT on ICE today.

Prices for coffee advanced amid falling inventories and waning supply. Exports of the commodity from Vietnam, the second biggest grower in the world, fell to 80,000 metric tons last month from 122,000 tons a year ago. Stockpiles monitored by the New York Stock Exchange dropped 57 percent in 2013 and were at the lowest level since at least 2002. March futures for Arabica coffee advanced $0.003 (0.27 percent) to $1.102 per pound on ICE.

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