LONDON: Raw sugar futures on ICE rose to a 10-month high on Monday with lower exports from Brazil helping to tighten supplies while cocoa prices fell.
Raw sugar was up 0.1percent at 16.47 cents per lb at 1334 GMT after setting a 10-month high of 16.63 cents. Dealers said the market was supported by an expected drop in production in the European Union following hot, dry weather, while a year-on-year decline in exports from Brazil has helped to tighten the market.
Speculators cut their bearish bet in futures of raw sugar on ICE US in the week to August 4, data from the Commodity Futures Trading Commission showed on Friday. White sugar was up a marginal 0.02percent at USD503.50 a metric ton after peaking at USD508.60, the highest since May 2025.
COCOA
ICE London cocoa fell 1.9percent to £4,203 a ton. Dealers said supplies were ample with a large global surplus in the current 2025/26 season, although production prospects appear less favourable for next season’s crops.
Below-average rains, overcast skies and cold weather last week threatened development of the September-to-February main crop in most of Ivory Coast’s cocoa-growing regions, farmers said on Monday. New York cocoa lost 1.6percent to USD5,805 a ton.
COFFEE
ICE arabica coffee was down 0.6percent at USD3.3365 per lb. Dealers said concerns about weak demand were weighing on prices although the market remained underpinned by the potential that El Nino weather conditions could curb production.
They also noted quality issues in leading producer Brazil. “The supply of premium coffees this season may be more limited compared to lower-quality coffees, as the recent rainfall may have significantly impacted coffee quality in several regions of Brazil’s coffee belt,” Rabobank said in a note. Robusta coffee rose 0.6percent to USD3,789 a ton.