Robusta coffee hits 16-year peak, sugar rises for 5th session
Adds comments and closing prices
NEW YORK, Aug 27 (Reuters) - Robusta coffee futures rose on Tuesday to at least 16-year highs on tight global supplies, while arabica coffee hit the highest price in 2-1/2 years.
Raw sugar futures climbed for a fifth consecutive session to a five-week peak.
COFFEE
* November robusta coffee LRCc2 settled up $131, or 2.8%, at $4,846 a metric ton after peaking at $4,952, the highest since January 2008.
* Dealers said farmers in Vietnam and Indonesia have been holding back coffee, expecting prices to rise further, exacerbating supply tightness.
* "Low exports from Asia have highlighted the situation of tight supplies," said Laleska Moda, a coffee analyst at broker Hedgepoint Global Markets. "Exports from Vietnam were near the historical lows in some months."
* Very dry conditions for coffee crops in Brazil added support as they could hurt production next year.
* December arabica coffee KCc2 rose 2.2% at $2.5525 per lb after hitting a 2-1/2 year high of $2.5945.
SUGAR
* October raw sugar SBc1 settled up 0.56 cent, or 2.9%, at 19.60 cents per lb after hitting a five-week high of 19.68 cents.
* Dealers said the market gained support from sugarcane field fires in Brazil's top producing state.
* Crime gang PCC is a prime suspect for setting Brazil farmland fires, an official said.
* Brazil's largest sugar group Raizen SA estimated that about 1.8 million tons of its sugarcane had been affected by the fires, or about 2% of the expected for its 2024/25 crop.
* Cane farming group Orplana said around 58,000 hectares were burned in Sao Paulo state, or around 2% of the area.
* October white sugar LSUc1 rose 4.2% at $548.00 a ton.
COCOA
* December New York cocoa CCc2 settled down $185, or 2.3%, at $7,825 a ton after climbing to a six-week high of $8,242.
* Dealers said any rebound in production in West Africa in the 2024/25 season may be smaller than expected.
* Rains were mainly below average last week in most of Ivory Coast's main cocoa regions, with more rain mixed with sun needed in September and October to boost the October-to-March main crop, farmers said.
* December London cocoa LCCc2 fell 2.8% to 5,314 pounds per ton.
Reporting by Nigel Hunt and Marcelo Teixeira; editing by David Evans, Ros Russell and Richard Chang
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