Rice and sugar crops destroyed by Typhoon Haiyan

Crops of rice and sugar were damaged by Typhoon Haiyan cutting through the central area of Philippines raising speculations that rice imports may grow amid shortages and as about 25,000 hectares of sugar are affected in the area. Rice futures dropped 0.6% to $15.60 per 100 pounds traded 6.1% below 19-month high recorded in June, while sugar has fallen 6.6% this year.