LONDON: Raw sugar futures on ICE climbed to a one-month high on Monday, boosted by further fund buying, while arabica coffee slid back towards a recent two-month low.
March raw sugar ?was up 0.01 cent, or 0.1%, at 13.52 cents per lb at 1400 GMT after climbing to a one-month peak of 13.65 cents.
Dealers said the market was mainly boosted by funds continuing to expand an already large net long position.
Expectations that production in number two exporter Thailand could fall further in 2020/21 due to low cane availability provided background support.
"Thailand's sugar production has been soft this season (2019/20) as well due to weather, which has helped tighten the sugar market considerably," ING said in a market note.
December white sugar rose $1.50, or 0.4%, to $378 a tonne.
December arabica coffee fell 2.1 cents, or 1.85%, to $1.1155 per lb, slipping back down towards a two-month low of $1.0905 set last week.
Dealers said large warehouse stocks in Brazil after a huge harvest this year remained a bearish influence, particularly given recent weakness in the currency of the world's top exporter. A weak Brazil real improves prices in local currency terms.
November robusta coffee fell $19, or 1.4%, to $1,339 a tonne.
December New York cocoa was up $52, or 2%, at $2,620 a tonne with prices moving up towards the middle of this month's range as the market awaited the start of the main crop season in West Africa on Oct. 1.
Cocoa arrivals at ports in top grower Ivory Coast reached 2.074 million tonnes between Oct. 1 and Sept. 27, exporters estimated on Monday, down 5.1% from 2.185 million tonnes over the same period last season.
December London cocoa rose 2 pounds, or 0.1%, to 1,869 pounds per tonne with gains capped by the strength of sterling.
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