Raw sugar prices lose ground; focus on Brazil fires
Adds comments and closing prices
NEW YORK, Aug 28 (Reuters) - Raw sugar futures slipped from the previous session's five-week high on Wednesday as the market continued to assess the extent of damage to sugarcane fields from fires in Centre-South Brazil.
SUGAR
* October raw sugar SBc1 settled down 0.06 cents, or 0.3%, at 19.54 cents per lb after setting a five-week high of 19.68 cents on Tuesday.
* Some of the suspects arrested for setting fire to sugarcane fields in Sao Paulo state told police they are linked to an organised crime gang and were retaliating for anti-crime actions by the government.
* Dealers said a larger-than-expected drop in production in Centre-South Brazil during the first half of August provided some support for prices.
* Industry group Unica reported on Wednesday that sugar production in the Centre-South of Brazil totaled 3.11 million metric tons, down 10.2% year-on-year. Unica said, however, that potential losses due to the fires will only appear in the next report.
* A survey by S&P Global Commodity Insights had seen sugar production at 3.29 million, a drop of only 5.2%.
* October white sugar LSUc1 fell 0.6% at $544.70 a ton.
COFFEE
* November robusta coffee LRCc2 settled up $80, or 1.7%, at $4,926 a ton after peaking on Tuesday at $4,952, the highest level in at least 16 years.
* Dealers said that despite tight global supplies, the market appeared to be technically overbought and could fall back in the short term.
* December arabica coffee KCc2 rose 0.5%, at $2.5645 per lb, just shy of a 2-1/2 year peak reached on Tuesday.
* Some arabica coffee farms in Brazil's Sao Paulo, the country's third largest producing state, were also hit by fires in farmland, but damage should be limited.
COCOA
* December New York cocoa CCc2 settled down $84, or 1.1%, to $7,741 a ton.
* Dealers said dry weather in top growers Ivory Coast and Ghana continued to limit the extent of any rebound in production in the coming 2024/25 season.
* December London cocoa LCCc2 fell 0.8% to 5,273 pounds per ton.
* Cameroon's cocoa and coffee association signed agreements with six cocoa exporters to roll out a platform that will provide plantations' location data to comply with an impending EU regulation on deforestation.
Reporting by Nigel Hunt and Marcelo Teixeira; Editing by David Goodman, Jonathan Oatis and Tasim Zahid
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