Raw sugar rallies after Brazil output data, cocoa falls
Recasts, updates prices, adds details
LONDON, July 25 (Reuters) -Raw sugar futures on ICE rallied on Thursday after data showed top producer Brazil produced much less sugar than expected in the first half of July.
Cocoa prices fell, meanwhile.
SUGAR
* October raw sugar SBc1 was up 3.9% to 18.63 cents per lb at 1431 GMT, having hit a 20-month low of 17.86 cents/lb on Wednesday.
* Sugar production in Brazil's key center-south region totalled 2.94 million tons in the first half of July, a 9.7% drop on a yearly basis, industry group UNICA said. The figure was far below estimates in a survey of analysts by S&P Global.
* Sugar has come under pressure from improved crop prospects in the northern hemisphere amid favourable monsoon rains, though there are concerns over yields and the amount of cane allocated to sugar production in top producer Brazil.
* October white sugar LSUc1 rose 2.4% to $534.40 a ton.
COCOA
* September London cocoa LCCc1 fell 3.3% to 6,468 pounds per ton, pushing down gains for the week to around 2%, following last week's near 8% loss.
* Nestle NESN.S, the world's biggest packaged food company, lowered its sales growth outlook as the maker of KitKat bars had to slow its pace of price hikes because consumers have become increasingly cost-conscious.
* Cocoa markets are looking for signs consumers are starting to react more forcefully to price hikes given that, to date, demand for the chocolate ingredient has held up relatively well.
* Dealers said, however, there remains uncertainty about next season's crop recovery, adding the supply squeeze is intact for now.
* Cocoa output in Indonesia, the world's fourth biggest exporter, is set to fall again this year as the effects of last year's El Nino weather pattern linger.
* September New York cocoa CCc1 fell 3.6% to $7,928 a ton.
COFFEE
* September arabica coffee KCc1 was little changed at $2.2970 per lb, having hit a near three week low of $2.2750.
* Dealers expect July exports from top producer Brazil will near record levels, again.
* September robusta coffee LRCc2 dipped 0.1% to $4,324 a ton.
* The weather in top producer Vietnam has improved significantly this month, boding well for the next crop.
* Coffee prices in Vietnam fell this week amid thin end of season trade volumes.
Reporting by Maytaal Angel; Editing by David Evans and Mark Potter
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