The benchmark first position contract ended the year 37 percent up from the end of 2004 and at the top of the year's range of $237.50 to $355.20.
"I think we had a little bit of fund buying. It all looks pretty positive for the new year," one trader said, noting the market looks set to continue its strong upward trend.
March closed up $3.60 at $355.20 a tonne, the highest level for the front month in more than nine years.
Total volume was 2,344 lots.
Vietnam sugar refiners are seeking permission to import between 100,000 and 150,000 tonnes of raw and refined sugar next year because of a shortfall caused by bad weather over the past several months.
Trading ended earlier than normal at 1218 GMT ahead of the New Year holiday. The market will be closed on Monday but will trade normal hours on Tuesday.
COFFEE LITTLE CHANGED:
London robusta coffee futures closed little changed on Friday in quiet trading with volume dominated by rolling forward of positions out of January into March, traders said.
The benchmark second position contract ended the year 56 percent up from the end of 2004 and in the upper third of the year's range of $712 to $1,333. Coffee had risen in June to its highest since December 1999. March closed $2 lower at $1,183 a tonne.
Traders noted the market had been expected to open $5 to $10 a tonne lower on Friday based on New York's close on Thursday but the market opened at little changed levels and held in a narrow range.
"Technically it looks good and I think there should be further gains in the new year," one trader said.
Total volume was 5,524 lots.
Trading ended earlier than normal at 1218 GMT ahead of the New Year holiday. The market will be closed on Monday but will trade normal hours on Tuesday.
COCOA STEADY:
London cocoa futures closed mostly steady on Friday as late speculative buying helped to erase earlier losses, traders said.
Prices had earlier fallen on profit-taking and light hedge selling in fairly quiet conditions.
"The profit-taking began to wane and we had some spec buying coming in. I think it (the steady close) augurs well for the New Year," one trader said.
Front-month March closed unchanged at 911 pounds a tonne while May ended up 1 pound at 920 pounds.
The benchmark second position contract ended the year 8 percent up from the end of 2004 and around the middle of the year's range of 795 to 1,010 pounds.
Ivory Coast's cocoa industry, long seen as rife with corruption, could be in for a major clean up after the prime minister took over running the economy, industry experts said on Thursday.
Cocoa arrivals at ports in Ivory Coast reached 620,677 tonnes between October 1. and December 25, according to an estimate by major exporters on Friday.
Trading ended earlier than normal at 1218 GMT ahead of the New Year holiday. The market will be closed on Monday but will trade normal hours on Tuesday.