LONDON: Arabica coffee futures on ICE were lower on Thursday with rains in Brazil set to improve the outlook for next year's crop while cocoa prices weakened following a decline in European grindings during the third quarter. December arabica coffee fell by 2.45 cents, or 2.2%, to $1.0715 per lb by 1342 GMT.
Dealers noted forecast rains in Brazil should improve the outlook for crops in the world's top producer although dry conditions remain a concern. November robusta coffee fell by $16, or 1.3%, to $1,234 a tonne.
December London cocoa was down 1 pound, or 0.1%, at 1,635 pounds, hovering just above a seven-week low of 1,628 pounds set on Wednesday.
December New York cocoa was down $35, or 1.5%, at $2,356 a tonne. March raw sugar was up 0.2 cents, or 1.4%, at 14.40 cents per lb with the market climbing back up towards a 7-1/2 month peak of 14.55 cents set on Monday.
December white sugar rose by $6.70, or 1.7%, to $393.60 a tonne.
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