LONDON: Cocoa futures on ICE fell on Tuesday, with New York cocoa hitting a two-week low as a short covering rally subsided, with strong European grind data failing to lift prices.
COCOA
* July London cocoa fell 19 pounds, or 1.9 percent, to 1,725 pounds per tonne by 1050 GMT, after rising to a more than six-week high of 1,767 pounds on Monday on speculative short covering.
* July New York cocoa fell $37, or 1.5 percent, to $2,361 per tonne, having earlier fallen close to a two-week low.
* Europe's first-quarter cocoa grind, an indicator of demand for the chocolate ingredient, rose 3.3 percent from the same period last year to 370,359 tonnes.
* Germany's first-quarter 2019 cocoa grind rose 1.9 percent on the year to 101,498 tonnes.
* A dealer said the data was better than expected but added that globally grinds have come in as expected this season.
* Good weather was supporting the development of the mid-crop, farmers in top grower Ivory Coast said.
SUGAR
* May raw sugar fell 0.11 cent, or 0.9 percent, to 12.55 cents per lb, having settled lower in the previous session.
* "One could argue that because prices have failed to break higher that a test of the support might be seen. However, there appears to be enough end-user buying to stop any serious erosion (and) it is unlikely funds will want to re-establish shorts at current levels," said a dealer.
* The sugar market has been trading in a tight range of 12 to 13.5 cents since November.
* August white sugar was down $2.1, or 0.6 percent, at $334.80 a tonne, having hit its highest in just over a week.
* A total of 127,700 tonnes of Indian white sugar has been tendered against the May contract, which expired on Monday.
COFFEE
* May arabica coffee was down 0.7 cent, or 0.7 percent, at 90.75 cents per lb, after slumping to a 13-year low of 89.35 cents on Friday due to a massive Brazilian crop.
* Brazil's coffee industry expects a more moderate consumption growth rate in the local market in 2019 after a jump of almost 5 percent in 2018.
* US green coffee stocks fell by 154,785 bags to 6.1 million 60-kg bags by the end of March.
* May robusta coffee was down $7, or 0.5 percent, at $1,403 a tonne.
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