NY cocoa closes below recent 1-month peak, sugar rebounds
Adds comments and closing prices
NEW YORK, Aug 22 (Reuters) -New York cocoa futures closed higher on Thursday, just shy of the prior session's one-month high, while raw sugar prices rebounded from a near two-year low hit earlier this week.
COCOA
* December New York cocoa CCc2 settled up $53, or 0.7%, at $7,750 a metric ton, rising towards the one-month high of $7,915 hit on Wednesday.
* Dealers said the market's focus remained on number two grower Ghana where the outlook for next season's crop has deteriorated and there are also major concerns about how the purchase of crops will be financed by state regulator Cocobod.
* "The hot and dry weather conditions have caused flowers and pods to dry up in the major producing regions of Ghana," ING said in a note.
* December London cocoa LCCc2 was little changed at 5,469 pounds per ton.
SUGAR
* October raw sugar SBc1 settled up 0.2 cent, or 1.1%, at 17.85 cents per lb, rebounding from a near two-year low of 17.52 cents hit on both Tuesday and Wednesday.
* Dealers said supplies look set to remain ample after a strong start to the cane harvest in Centre-South Brazil, while increased availability of sugar from Thailand is expected in the fourth quarter of 2024.
* Brazil's national crop agency Conab on Thursday increased its forecast for the country's 2024/25 sugarcane crop, but said production would still fall short of the previous season.
* Pakistan is allowing the export of 100,000 tons of sugar for 2024/25, the government said on Thursday.
* October white sugar LSUc1 rose 1.3% to $512.10 a ton.
COFFEE
* November robusta coffee LRCc2 settled down $58, or 1.3%, at $4,574 a ton, slipping back from the prior session's one-month high of $4,658.
* Dealers said the market was underpinned by the slow pace of exports from Vietnam although the outlook for next year's crop in the world's largest robusta producer appeared to be improving.
* "The weather is still favourable at the moment. However, rainfall is forecast in the upcoming months due to La Nina. In this case, bean picking and drying processes may be disrupted," a trader in Vietnam's coffee belt said.
* December arabica coffee KCc2 fell 2.5% to $2.429 per lb.
Reporting by Nigel Hunt and Marcelo Teixeira; Editing by David Evans and Shounak Dasgupta
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