Sugar declines

COMMODITIES: Sugar fell the most in almost four weeks in New York on signs supplies are expanding in India, the world’s second-biggest producer, Thailand and China.

Sugar production in India will be 25 million tonnes in 2013-14, 5.5% more than estimated in July as the best monsoon rainfall in almost two decades boosts yields, the Indian Sugar Mills Association said.

‘‘An excellent monsoon will also mean bigger output in China and Thailand, the second-biggest exporter,’’ Tom McNeill, a director at Brisbane, Australia-based sugar and biofuels researcher Green Pool Commodity Specialists Pty said.

‘‘We boosted our China production forecast to over 13 million tonnes last week, and the Thai crop also seems to be firming for around 11 million tonnes,’’ Mr McNeill said in a report.

‘‘India’s output is also expected higher, with raw exports being touted for early in an early harvest.’’

Raw sugar for delivery in March fell 0.9% to 17.59 cents a pound by 7.07am on ICE Futures US in New York. The price fell as much as 1.2%, the most since Aug 27. BLOOMBERG