Arabica coffee retreats after hitting fresh 13-year high, cocoa comes off peaks
Updates prices, adds details
LONDON, Nov 18 (Reuters) -Arabica coffee futures on ICE retreated after hitting fresh 13-year highs on Monday amid concerns over supplies in central and south America, and uncertainty on the regulatory front, while cocoa retreated somewhat from last week's stellar rally.
COFFEE
* March arabica coffee KCc2 was down 0.5% at $2.82 per lb at 1655 GMT, having hit its highest since May 2011 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.
* Tropical depression Sara is headed on to Mexico's Yucatan Peninsula on Sunday after unleashing floods over Honduras and Belize that killed at least one person. The storm damaged some coffee farms in Honduras, Central America's top producer.
* Rabobank said coffee is also being driven by uncertainty over the upcoming EU Deforestation Regulation (EUDR), as well as fears over potential U.S. tariffs.
* ICE coffee speculators raised their net long position by 3,082 contracts to 40,239 in the week to Nov. 12, data showed.
* January robusta coffee LRCc2 was down 1% at $4,731 a metric ton.
COCOA
* March London cocoa LCCc2 fell 2.4% to 6,695 pounds per ton, as the market readjusted after a stellar 22.19% gain last week.
* 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, exporters estimated.
* The market expects arrivals to tail off going forward, however.
* Ivory Coast has reduced its sales of cocoa export contracts for the 2024/25 season by 40% in recent days due to worsening weather conditions which have caused production concerns, two sources told Reuters last week.
* March New York cocoa CCc2 fell 1.9% to $8,344 a ton.
SUGAR
* March raw sugar SBc1 rose 2.2% to 22.04 cents per lb, following six consecutive weeks of losses.
* March white sugar LSUc1 rose 2.7% to $569.70 a ton.
Reporting by Maytaal Angel; Editing by Shinjini Ganguli and Alan Barona
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