LONDON: Sugar, coffee and cocoa futures on ICE were lower on Friday on heightened concerns about a global economic downturn against the backdrop of rising interest rates.

October raw sugar fell 0.3% to 18.44 cents per lb by 1026 GMT.

COFFE SLIPS

December arabica coffee fell 0.4% to $2.2270 per lb.

Dealers said rains in Brazil and the prospect of further showers over the next couple of weeks had improved the outlook for next year’s crop in the world’s top producer.

“Moisture supplies will become fully replenished across much of Brazil which will aid flowering,” weather service Maxar said in a report.

November robusta coffee fell 0.4% to $2,230 a tonne.

COCOA LOWER

December New York cocoa was down 1.9% at $2,277 a tonne. Production of chocolate in Brazil, the world’s fifth largest market for the product, increased 11.43% in the first half of 2022 compared with the same period a year earlier, industry group Abicap said on Thursday.