Sugar Gains for Third Straight Year; Coffee Jumps 77% in 2010
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Sugar futures jumped 5.7 percent today, capping the third straight annual gain, on renewed speculation that global supplies will fall short of consumption. Coffee had the biggest yearly rally since 1994.
Worldwide demand will reach 165.3 million metric tons in the year ending Sept. 30, topping supplies by almost 3 million tons, ABN Amro Bank NV and VM Group have said. In the second half of 2010, sugar prices doubled, leading gains in the period among 19 raw materials in the Thomson Reuters/Jefferies CRB Index.