Liffe January robusta coffee ended $53 lower at $1,931 per tonne on Thursday, pressured by widespread losses in commodity markets linked to a stronger dollar. Liffe December white sugar ended $7.50 higher at $797.30 per tonne. Market remains within striking distance of Tuesday's record high for the front month of $812.90, underpinned by reports of physical demand and uncertainty over Indian exports in 2010/11.
Liffe second-month March cocoa ended 1 pound lower at 1,871 pounds a tonne. Strength of sterling helped to halt this week's rebound after prices dipped on Monday to the lowest level since August 2009. In sugar, an Egyptian newspaper report referring to Egyptian plans to buy raw sugar, helped drive raw sugar futures to the peak in early trade. "The hot news is a report from Egypt that it could be looking to buy raw sugar," a senior European broker said. "There may also be some investors forced to cover short positions."
Futures prices eased back after Reuters confirmed the newspaper report and as the dollar firmed against a basket of currencies. Egypt's state-owned Sugar and Integrated Industries Company (SIIC) said on Thursday it planned to import about 500,000 tonnes of raw sugar in 2011. Dealers also awaited a decision from India, expected in the second half of November, on how much sugar the world's number 2 producer would export in 2010/11 to help relieve the supply gap before Brazil's next harvest in 2011.
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