Raw sugar prices fall as Indian crop outlook improves
Adds comments on coffee, updates prices
NEW YORK, Aug 1 (Reuters) - Raw sugar futures on ICE closed down on Thursday after stronger than normal monsoon rains in India improved the outlook for cane crops. Cocoa and coffee also fell, with robusta coffee falling to the lowest in four weeks.
SUGAR
* October raw sugar SBc1 settled down 0.44 cent, or 2.3%, at 18.50 cents per lb.
* Dealers said higher than normal monsoon rainfall in India was beneficial for cane crops and should lead to a build-up in stocks in a country that is one of the world's top producers.
* India is set to receive above-average monsoon rainfall as a La Nina weather pattern forms in August and September, a weather official said on Thursday, promising to boost farm output and growth in Asia's third-biggest economy.
* The market was underpinned, however, by diminished prospects for production in Centre-South Brazil, with the region set to remain dry in the coming weeks.
* October white sugar LSUc1 fell 2.1% at $523.50 a metric ton.
COFFEE
* September robusta coffee LRCc1 fell 0.7% to $4,233 a ton, having hit a four-week low of $4,158/ton.
* Dealers said the market was pressured by an increased flow of arabica and conillon (robusta) supplies from Brazil, where the harvest is in its final stages.
* Broker Hedgepoint Global Markets said in a note that Indonesia is also offering more coffee (robusta) in the market, as its harvest reaches a peak point.
* A drop in exports of robusta coffee from Vietnam, however, continued to underpin prices.
* "The news of lower exports from Vietnam has kept the prices from falling further," a trader based in Vietnam's coffee belt said.
* September arabica coffee KCc1 fell 0.9% at $2.2725 per lb, having hit a near one-month low at $2.2525/lb.
COCOA
* September London cocoa LCCc1 settled down 423 pounds, or 6.6%, to 6,004 pounds per ton. The contract hit a one-month low earlier at 5,971 pounds/ton.
* Dealers said the weather in West Africa remained generally favourable for 2024/25 main crops.
* U.S. chocolate makerHershey HSY.N cut its profit and sales forecast on Thursday, as higher prices impacted consumer buying.
* September New York cocoa CCc1 fell 6.5% to $7,562 a ton.
Reporting by Nigel Hunt and Marcelo Teixeira; Editing by David Goodman, David Holmes and Mohammed Safi Shamsi
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
