White sugar climbs in London after report of purchase by Sudan

White sugar rose for a second day in London after a report that Sudan bought 100,000 metric tonnes of the sweetener. The price was $60m, according to the report by Sudan’s state-run SMC news agency, indicating that the product was white, or refined, sugar costing $600 a ton. White sugar for May delivery on Liffe is $26 a tonne more expensive than August- delivery sweetener, up from $19.60 at last week’s end. White sugar for May delivery climbed $11, or 2.3 percent, to $497 a tonne at 10:59 a.m. local time on the Liffe exchange. The contract posted a sixth straight weekly drop last week. Raw sugar for May delivery jumped 1.4 percent to 17.23 cents a pound on ICE Futures US in New York. Robusta coffee for May delivery rose 0.1 per cent to $1,340 a tonne on Liffe. Traders were probably net short, or betting on lower prices, by 25,000 contracts and have closed 10,000 to 12,000 contracts as prices rebounded, according to estimates by Ralph Hawes, head of the sugar desk at Sucden in London. Robusta has gained 4.4 per cent this month. Cocoa for May delivery increased 0.4 per cent to £2,225 ($3,334) a tonne.