NY cocoa prices fall, coffee and sugar climb
LONDON, May 9 (Reuters) -New York cocoa futures on ICE were lower on Thursday, although conditions remained very choppy, while robusta coffee prices were buoyed by crop concerns in Vietnam and sugar also rose.
COCOA
* July New York cocoa CCc2 fell 1.5% to $8,502 a metric ton by 1106 GMT.
* Dealers said the market's recent extreme volatility was helping to limit participation.
* Fundamentals, however, have remained largely unchanged with a large global deficit in the current 2023/24 season helping to underpin prices.
* July London cocoa LCCc2 fell 1.6% to 7,355 pounds a ton.
COFFEE
* July robusta coffee LRCc2 rose 1.7% to $3,472 a ton.
* Dry conditions in top robusta producer Vietnam remained a supportive influence despite some recent rain.
* "Conditions in Vietnam remain a persistent concern and could fuel further bullish sentiment," BMI said in a note, adding depleted water reservoirs and lakes in Vietnam’s Central Highlands region would not be replenished ahead of the 2024/25 harvest.
* July arabica coffee KCc2 rose 1.9% to $2.0125 per lb.
SUGAR
* July raw sugar SBc1 rose 0.5% to 19.69 cents per lb.
* Dealers said the market was stuck between solid support around 19 cents and resistance at 20 cents, noting prices had held in that band for the last couple of weeks.
* August white sugar LSUc1 rose 0.9% to $577.80 a ton.
* The global sugar market is heading to a small surplus of 1.62 million metric tons in the 2024/25 season (Oct-Sept), after posting a deficit of 1.79 million tons in 2023/24, as production in Thailand recovers, consultancy Datagro said on Wednesday.
Reporting by Nigel Hunt;
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