London white sugar futures closed down three percent on Friday after the World Trade Organisation ordered the European Union to limit sugar exports by May 22, a date earlier than expected by the sugar market, traders said.

Liffe December closed down $8.70 or 2.94 percent at $287.50 per tonne in volume of 6,816 lots after trading from $297.10 to $287.10. March concluded down $7.7 or 2.53 percent at $297.0 in volume of 8,083 lots, having moved from $305.50 to $296.50.

"This ruling is significant because it (May 22) is earlier than the market thought," one senior market source said.

Copyright Reuters, 2005