LONDON: Raw sugar futures on ICE hit a one-month low on Tuesday, extending recent losses as funds scaled back long positions, while cocoa and coffee prices also fell.
SUGAR
Raw sugar dropped by 3 percent to 18.49 cents per lb by 1413 GMT after setting a one-month low of 18.39 cents. Dealers said the market was extending a downward trend initially triggered by the result of Brazil’s election, which led to a sharp decline in the country’s currency and a pickup in hedge selling by Brazilian mills. The strong pace of sugar production in India during October has also contributed to recent weakness in prices. White sugar fell 1.6 percent to USD501.30 a metric ton.
Associated British Foods on Tuesday forecast another year of lower profit after reporting a 14 percent fall in earnings for 2025/26, pressured by deepening losses in its sugar business.
COCOA
London cocoa lost 0.7 percent to £4,193 per ton after touching a one-month low of £4,157. Dealers noted the potential for a recovery in Ghana’s cocoa production later this season while there also remain some concerns about weak demand. New York cocoa fell 0.5 percent to USD5,409 a ton, having hit a one-month low at USD5,343.
COFFEE
ICE arabica coffee fell 1.6 percent to USD2.8750 per lb. Dealers said the market was underpinned by short-term supply tightness although the outlook for next year’s crops remains generally favourable. They noted that exchange stocks stood at 220,917 bags, as of November 2, down from 225,610 bags a week ago.
At the same time last year stocks stood at 431,481 bags. Robusta coffee lost 0.9 percent to USD3,213 a ton. Vietnam exported 1.569 million metric tons of coffee in the first 10 months of 2026, up 18.8 percent from the same period a year earlier, government data showed on Tuesday.
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