Sugar Rises to a 29-Year High; Cocoa, Coffee, Orange Juice Gain
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Raw sugar rose for a 10th straight session, reaching a 29-year high on concern that India may cap exports to boost domestic supplies after a smaller-than-expected cane harvest. Cocoa, coffee and orange juice gained.
India, the world’s second-biggest sugar producer, may export 1.5 million to 2 million metric tons of the sweetener, New York-based Commodore Research & Consultancy said yesterday. Earlier this year it predicted 3.5 million tons. Flooding in the state of Uttar Pradesh triggered cuts to forecasts, Commodore said.