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SOFTS-Raw sugar gains but remains in range ahead of India news

(Updates with settlement prices)

NEW YORK/LONDON, Nov 12 (Reuters) - ICE raw sugar prices rose 3% on Thursday but remained firmly within recent ranges as traders awaited news from India on its sugar export policy.

SUGAR

* March raw sugar rose 0.43 cents, or 3%, to settle at 14.92 cents per lb, reversing three consecutive days of losses.

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

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

* December white sugar, which expires on Friday, rose $9.50, or 2%, to settle at $406.90.

COFFEE

* December arabica coffee settled up 1 cents, or 0.9%, at $1.101 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 and a record for the month, trade group Cecafe said.

* January robusta coffee settled up $20, or 1.4%, at $1,413 a tonne.

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

COCOA

* March New York cocoa settled down $18, or 0.8%, to $2,356 a tonne.

* Barry Callebaut, the world’s largest chocolate maker, on Wednesday said that sales volumes in the final quarter of its financial year to August recovered from a coronavirus-related slump. It added that solid financials supported the company’s confidence in its mid-term guidance.

* March London cocoa was little changed at 1,611 pounds per tonne. (Reporting by Maytaal Angel; Additional reporting by Jessica Resnick-Ault in New York; Editing by Bernadette Baum, David Goodman and Uttaresh.V)

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