LONDON: Sugar futures rose on Tuesday as supportive technicals offset worries about ample global supplies, while light buying helped New York cocoa climb further away from recent lows.
SUGAR
Sugar futures reopened higher on Tuesday after the Easter holiday break, with July raw sugar prices up 0.13 cent, or 0.79 percent, to 16.65 cents by 1202 GMT.
August white sugar also climbed $1.70, or 0.36 percent, to $472.00 a tonne.
An estimated 137,500 tonnes were delivered against the May white sugar contact that expired on Thursday, with ED&F Man Sugar as the sole receiver.
Origins included Brazil, Guatemala, India and Algeria, exchange data showed on Tuesday.
The market continued to monitor Brazil for signs whether heavy rains forecast for this week would slow down cane crushing in the south.
"This could bring falls of 30-40 mm in some regions, and should at least briefly disrupt harvesting across the southern half of CS Brazil's cane areas," said Green Pool's Tom McNeill.
India's weather office, meanwhile, said on Tuesday crucial monsoon rains were expected to be average in 2017, diminishing the prospect of weather disruptions in the world's top sugar consumer.
Ample supplies were also in focus, with 2017/18 Thai output seen at 11.2 million tonnes, up 12 percent from 2016/17, a report issued by a US Department of Agriculture attache showed on Monday.
COCOA
July New York cocoa rose $15, or 0.78 percent, to $1,942 a tonne as prices recovered further in low volume, after rebounding from five-week lows in the previous session.
Dealers noted trade remained volatile and prices were still hovering near lows, but oversold conditions had prompted some supportive buying interest.
July London was unchanged at 1,544 pounds a tonne, as a stronger pound capped the market.
Ample supplies also weighed, with a large global surplus expected this season amid strong production from top grower Ivory Coast.
Cocoa arrivals at Ivorian ports had reached around 1,427,000 tonnes by April 16 from the start of the season on Oct. 1, exporters estimated on Tuesday, up from 1,234,000 tonnes in the same period of the previous season.
COFFEE
May arabica coffee gained 0.15 cent, or 0.11 percent, to $1.4125 per lb.
May robusta rose $15, or 0.70 percent, to $2,160 a tonne.
Speculators raised their net long position in robusta by 1,817 lots to 49,043 lots as of April 11, exchange data showed on Monday.
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