LONDON: Raw sugar futures edged up on Thursday, supported by concerns that hot, dry weather could curb production in key producing areas such as the European Union.
SUGAR
Raw sugar was up 0.3percent at 15.19 cents per lb by 1012 GMT. Dealers were also awaiting the release on Thursday of June data on sugar and cane production in Centre-South Brazil.
White sugar rose 0.1percent to USD477.50 a metric ton. Indian sugar prices have jumped by 10percent to a record high over the past month and are expected to remain elevated for at least the next three months as supplies tighten and festival demand gathers pace, traders and industry officials said.
COCOA
ICE London cocoa fell 4percent to £4,203 a ton. Dealers said the market remained extremely choppy, with Wednesday’s rise to a one-month high of £4,612 followed by a rapid retreat.
The focus remained on the outlook for production in the coming 2026/27 season, with an expected decline likely to lead to a more balanced market after a significant surplus in 2025/26, dealers said. New York cocoa lost 4.1percent to USD5,756 a ton.
COFFEE
ICE arabica coffee was down 0.9percent at USD3.2390 per lb, though the market continued to be underpinned by tight supplies. Dealers noted that exchange stocks have fallen to their lowest since January 31, 2024.
ICE certified stocks stood at 251,417 bags on August 5, down from 274,168 bags a week earlier and sharply below the 754,516 bags by the same stage last year. Robusta coffee was down 0.9percent at USD3,850 a ton.
Robusta coffee prices in Vietnam edged up this week, tracking gains in global markets, while traders began offering prices for beans from the new crop that will start arriving in November, traders said on Thursday.
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