LONDON, May 29 (Reuters): Raw sugar futures on ICE fell on Wednesday with supplies boosted by strong production in Brazil while coffee prices fell back after the prior session's steep rise.
July raw sugar fell 1.6 per cent to 18.43 cents per lb by 1132 GMT.
Dealers noted sugar production in Centre-South Brazil was still running ahead of last year although not to the extent it was in April. Data covering the second half of April, issued in mid-May, showed a year-on-year rise of 84.25 per cent.
Industry group Unica are expected to issue data this week on cane and sugar production in Centre-South Brazil covering the first half of May.
A survey issued by S&P Global Commodity Insights saw sugar production rising 6.3 per cent in the first half of May, year-on-year, to 2.70 million tonnes.
August white sugar LSUc1 fell 0.8 per cent to $549.00 a tonne.
Meanwhile, July robusta coffee LRCc1 fell 1 per cent to $4,079 a tonne, giving up some ground after rising by nearly 6 per cent on Tuesday.
Dealers said the market was supported by lower-than-expected yields in Brazil and ongoing concerns that dry weather earlier this year would curb production in Vietnam.
July arabica coffee rose 1 per cent to $2.2855 per lb.
Raw sugar futures weaken, coffee prices also fall
FE Team | Published: May 29, 2024 23:43:05
Raw sugar futures weaken, coffee prices also fall
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