LONDON: Raw sugar futures on ICE rose for a fourth straight session to hit a one-week high on Wednesday, while arabica coffee headed back toward a three-month low. SUGAR Raw sugar rose 0.5percent to 17.84 cents per lb at 1232 GMT, having hit a high of 18.02.
“We are seeing more rain-related crush delays and there is more rain expected in the first week of October. The market might still test 18.60,” said independent broker and consultant Michael McDougall. He also noted that rising oil prices are driving sugar higher, but added that against that, bit added demand remains weak.
India, for example, is moving closer to new regulations to restrict the sale of foods high in fat and sugar within a 50-metre radius of schools, the latest proposal to cut the consumption of junk food in the country. White sugar rose 0.5percent to USD508.50 a ton.
COFFEE
Arabica coffee fell 0.6percent to USD2.6665 per lb, heading back toward Tuesday’s three-month low of USD2.6300. Top grower Brazil’s 2026 coffee crop is expected to total a record 67.6 million 60-kg bags, national crop agency Conab said, raising its estimate from 66.7 million as stronger arabica yields more than offset lower robusta production.
Robusta coffee fell 1percent to USD3,284 a metric ton after slumping to a 3-1/2-month low of USD3,218 on Tuesday. “Healthy supplies from Brazil and steadily rising exports from Vietnam are putting pressure on robusta prices,” said a trader based in top robusta grower Vietnam.
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