LONDON: Raw sugar futures on ICE rose on Wednesday boosted partly by gains in crude oil, while cocoa prices slumped to 15-month lows weighed by concerns about weak demand.
October raw sugar was up 0.19 cents, or 1.6%, at 12.15 cents per lb by 1351 GMT after testing but failing to breach resistance at 12.25 cents.
Dealers said the market lacked a clear overall trend at the moment with strong production in Brazil helping to keep a lid on prices. August white sugar fell $0.50, or 0.1%, to $355.20 a tonne.
September London cocoa fell 24 pounds, or 1.5%, to 1,596 pounds a tonne after dipping to 1,593 pounds, the weakest price for the second position since March 2019. Europe's second quarter grind is provisionally due to be issued on July 16. September New York cocoa fell $16, or 0.7%, to $2,170 a tonne after touching $2,158, also the lowest since March 2019. September arabica coffee fell 0.5 cents, or 0.5%, to $1.0050 per lb, losing some ground after a sharp run-up earlier in the week. September robusta coffee rose $6, or 0.5%, to $1,193 a tonne.
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