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SOFTS-Raw sugar recovers but remains in range, awaiting India news

LONDON, Nov 12 (Reuters) - ICE raw sugar prices rose 2% on Thursday but remained firmed within recent ranges, as traders awaited news from India on its sugar export policy.

SUGAR

* March raw sugar rose 0.24 cents, or 1.7%, to 14.73 cents per lb at 1139 GMT, reversing three consecutive days of losses.

* India, a top sugar producer, is reportedly targeting sugar exports of 6 million tonnes this season, and dealers said while the country’s sugar export subsidies will likely be lower than last season, they should not be insignificant.

* Ahead of the news, the market will likely consolidate within the range seen since end-October, they added.

* December white sugar, which expires on Friday, rose $5, or 1.3%, to $402.40.

COFFEE

* December arabica coffee rose 1.1 cents, or 1%, to $1.1020 per lb.

* Brazil exported 4.1 million bags of coffee in October, including green, soluble and roasted coffee, 11.5% more than in the same period last year, a historical record for the month, according to Cecafe, a trade group.

* January robusta coffee rose $9, or 0.7%, to $1,402 a tonne.

* Fresh coffee supply from Vietnam’s 2020/21 robusta harvest is yet to pick up as heavy rains in key growing areas triggered by storms over the past month disrupted cherry picking, traders said.

COCOA

* March New York cocoa fell $19, or 0.8%, to $2,355 a tonne, following gains in the prior session.

* Barry Callebaut, the world’s largest chocolate maker, said on Wednesday sales volumes recovered in the final quarter of its fiscal year to August, after slumping because of the COVID-19 pandemic. It added solid financials supported its confidence in its mid-term guidance.

* March London cocoa fell 13 pounds, or 0.8%, to 1,598 pounds per tonne. (Editing by Bernadette Baum)

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