Dec. 10 (Bloomberg) -- Raw sugar rose from a 13-week low on signs of ebbing supplies from Brazil, the world’s top producer and exporter. Cotton and cocoa also rose.
In the first half of November, mills in Brazil’s Center South, the main sugar cane growing region, processed 25.8 million metric tons, down 10 percent from a year earlier, Unica, a Sao Paulo-based industry group, said today. Companies used more of the raw material to produce ethanol.
“Unica’s data are providing support to prices,” Michael McDougall, a senior vice president at Newedge Group in New York, wrote in an e-mail.
Raw sugar for March delivery increased 0.4 percent to settle at 16.62 cents a pound at 2 p.m. on ICE Futures U.S. in New York. Earlier, the price touched 16.45 cents, the lowest for a most-active contract since Sept. 5.
Cotton futures for March delivery added 0.4 percent to 80.69 cents a pound on ICE. Cocoa futures for March delivery gained 0.8 percent to $2,773 a ton.
--With assistance from Gerson Freitas Jr. in São Paulo. Editors: Millie Munshi, Patrick McKiernan