Sugar rose in London for a second day on speculation that India may limit exports as it rebuilds inventories. Cocoa climbed before Ivory Coast announces the outcome of an election. India, the world’s second-largest sugar producer, became the biggest importer last year as adverse weather damaged crops. Stockpiles are at about 4 million metric tons, compared with the nation’s preferred level of 10 million tons, according to Rabobank International. “India is really the big question overhanging the market,” Jake Wetherall, a London-based trader at Rabobank International, said by telephone today. “It looks like India’s going to have a fairly good crop this year -- it should be over 25 million tons for the first time in a few years -- but the question is how much the government decides is going to be made available for export.” White, or refined, sugar for March delivery gained $14.10, or 1.9 percent, to $749.10 a ton on NYSE Liffe at 11:19 a.m. London time. Raw sugar for March delivery rose 0.76 cent, or 2.6 percent, to 30.21 cents a pound on ICE Futures U.S. in New York after reaching 30.33 cents, closing in on February’s 29-year high of 30.4 cents. China may sell more sugar from stockpiles to ensure local supply, industry website Gsmn.cn reported yesterday, without citing anyone. Election Outcome Ivory Coast, the world’s largest grower of cocoa, held its first presidential election in a decade on Oct. 1, and preliminary results are expected within two days. Economic development has been stunted since a 2002 military uprising led to civil conflict and division between a rebel-held north and a government-controlled south. The country relies on cocoa for more than a quarter of its export earnings. Cocoa for December delivery rose 9 pounds, or 0.5 percent, to 1,851 pounds ($2,958) a ton in London, paring a climb of as much as 0.7 percent. The chocolate ingredient for December delivery gained $16, or 0.6 percent, to $2,775 a ton in New York. Robusta coffee for January delivery climbed $3, or 0.2 percent, to $1,931 a ton on NYSE Liffe. Arabica coffee for December delivery added 1.25 cents, or 0.6 percent, to $1.9895 a pound in New York. To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net. To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net

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