LONDON: Raw sugar futures on ICE were marginally lower on Thursday, extending their recent decline, with strong production in Brazil keeping the market well supplied, while robusta coffee fell back from the prior session's eight-month high.
October raw sugar was down 0.02 cents, or 0.2%, at 12.56 cents per lb at 1417 GMT.
Dealers noted strong production in Brazil had helped to erase some of the market's gains in the second half of July and the first half of August when the front month peaked at a five-month high of 13.28 cents on Aug. 14. Sugar production in Centre-South Brazil increased 51% in the first half of August when compared to a year-earlier period, industry group Unica said on Wednesday.
October white sugar was unchanged at $359.50 a tonne.
November robusta coffee was down $28, or 2.0%, at $1,399 a tonne, retreating from an eight-month peak of $1,448 on Wednesday. December arabica coffee was down 2.15 cents, or 1.8%, at $1.1995 per lb.
December New York cocoa rose $47, or 1.9%, to $2,523 a tonne, boosted by concerns that dry weather will curb production in West Africa in the upcoming 2020/21 season.
December London cocoa was up 31 pounds, or 1.8%, at 1,714 pounds a tonne.—Reuters
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