SOFTS-Raw sugar prices equal one-month high, coffee slips

Kitco Media
By Reuters
Published:
Updated:
Reuters
LONDON, Jan 30 (Reuters) - Raw sugar futures were flat on Monday, after earlier reaching the prior session's one-month high, underpinned by a diminishing outlook for production in India, while coffee prices fell.


SUGAR
* March raw sugar rose 0.1% to 20.98 cents per lb by 1054 GMT after equalling the prior session's one-month high of 21.03 cents.
* Dealers said the potential for more Indian exports had been dented by crop concerns, which have centred on the top producing state, Maharashtra.
* India is thus less likely to export more sugar, maybe leaving the world with somewhat tight supplies through much of first half of calendar 2023, Commonwealth Bank of Australia analyst Tobin Gorey said in a note.
* March white sugar fell 0.4% to $560.40 a tonne.


COFFEE
* March arabica coffee fell 0.5% to $1.69 per lb.
* Dealers said the recent bout of fund short covering appeared to have at least temporarily abated.
* Speculators reduced their bearish bets in futures of arabica coffee on ICE U.S. in the week to Jan. 24, data from the Commodity Futures Trading Commission showed on Friday.
* March robusta coffee fell 0.7% to $2,039 a tonne.
* Vietnam exported 160,000 tonnes of coffee in January, down 30.9% from a year earlier, government data released on Sunday showed.


COCOA
* March New York cocoa fell 0.1% to $2,625 a tonne.
* Cocoa arrivals at ports in top grower Ivory Coast had reached 1.540 million tonnes by Jan. 29 since the start of the season on Oct. 1, exporters estimated on Monday, up 5.7% from the same period last season.
* March London cocoa fell 0.05% to 2,034 pounds a tonne. (Reporting by Nigel Hunt;editing by Sharon Singleton)

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