Sugar Rises in New York to Highest in 6 Months on Weaker Dollar

By Ron Day

Sept. 26 (Bloomberg) -- Sugar rose to its highest price since March as the dollar weakened, trimming the cost of commodities for buyers using other currencies.

The dollar fell against a weighted basket of six major currencies including the euro and yen as the U.S. Treasury's $700 billion financial-rescue plan faced opposition in Congress. Sugar has surged as Brazil and India, the world's largest growers, produce less.

Raw-sugar futures for March delivery gained 0.02 cent, or 0.1 percent, to 14.57 cents a pound at 9:53 a.m. on ICE Futures U.S. in New York. Earlier, sugar reached 14.72 cents, the highest for a most-active contract since March 5. The price climbed 6.7 percent this week through yesterday.

To contact the reporter on this story: Ron Day in New York at rday1@bloomberg.net.