Arabica coffee heads back towards 13-year peak; cocoa, sugar steady
LONDON, Nov 19 (Reuters) -Arabica coffee futures on ICE edged up on Tuesday, heading back towards the prior session's 13-year peaks on lingering concerns over supplies and uncertainty about the European Union's deforestation regulation.
Cocoa and sugar steadied, meanwhile.
COFFEE
* March arabica coffee KCc2 rose 0.6% to $2.8230 per lb at 1219 GMT, having hit its highest since May 2011 on Monday at $2.9150.
* The crop in top producer Brazil appears to have lost some potential following the drought earlier this year, with forecasters increasingly expecting lower arabica output this season.
* Dealers said the market remains concerned the attempt by right-leaning parties in the European Parliament to delay and water down the EU Deforestation Regulation (EUDR) could backfire, with the law coming into effect at the end of December as originally planned.
* January robusta coffee LRCc2 fell 0.8% to $4,698 a metric ton.
COCOA
* March London cocoa LCCc2 slipped 0.3% to 6,658 a ton, having posted a stellar 22.19% gain last week.
* Dealers said cocoa is steadying as last week's bullish news has been priced in for now, and as the early expected arrival of Harmattan winds in West Africa could, potentially, reduce the risk of black pod disease.
* Cocoa arrivals at ports in top grower Ivory Coast reached 549,000 tons by Nov. 17 since the start of the season on Oct. 1, up from 417,000 tons the same period last season, but the market expects arrivals to tail off going forward.
* March New York cocoa CCc2 fell 0.9% to $8,241 a ton.
SUGAR
* March raw sugar SBc1 edged up 0.5% to 22.31 cents per lb, following six consecutive weeks of losses.
* March white sugar LSUc1 edged up 0.6% to $577 a ton.
Reporting by Maytaal Angel; Editing by Emelia Sithole-Matarise
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