Cocoa futures pared gains on Monday after Ivory Coast's defeated leader Laurent Gbagbo was arrested and the European Union lifted sanctions on the top producer's two main ports, indicating export resumption was near. Sugar rose after the US Agriculture Department authorised the imports of nearly 295,000 tonnes in fiscal 2011, while coffee prices dipped on light producer selling.
New York's July cocoa contract on ICE Futures US climbed $43 to finish at $3,028 per tonne. Sugar futures were boosted after the USDA increased its sugar import quota to 1,556,497 short tons (raw value) for fiscal 2011 by reassigning 325,000 short tons originally allocated to domestic producers.
New York's May raw sugar contract rose 0.38 cent to end at 26.04 cents per lb. Coffee prices eased, staying within a tight range as dealers said light producer selling weighed and prices remained below the 34-year high of $2.9665 a lb hit on March 9. New York's July arabica contract fell 0.25 cent to close at $2.776 per lb.
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