Raw sugar prices slip as focus remains on India
Adds comments, weekly price moves
NEW YORK, Aug 2 (Reuters) -Raw sugar futures fell more than 2% on Friday, with the market focused on whether an improving cane crop outlook in India could pave the way for exports, while London cocoa prices held just above the prior session's 2-1/2 month low.
SUGAR
* October raw sugar SBc1 settled down 0.4 cents, or 2.2%, at 18.10 cents per pound. The contract lost 1.7% in the week.
* Dealers said the market was keeping a close watch on India where stronger-than-normal monsoon rains should boost cane crops and could lead to a build up in stocks.
* They noted, however, that there was no sign yet that India will allow exports despite pressure from millers.
* October white sugar LSUc1 fell 1.5% at $515.80 a metric ton after dipping to $513.14, the lowest level since July 2022.
COCOA
* September London cocoa LCCc1 settled up 20 pounds, or 0.3%, to 6,024 pounds per ton, hovering just above Thursday's 2-1/2 month low of 5,971 pounds. It lost 8% in the week.
* Dealers said an improving outlook for 2024/25 main crops in West Africa remained a bearish influence.
* "The weather improved, farmgate prices were raised, so there is more incentive to production," a U.S.-based broker said about Africa.
* September New York cocoa CCc1 fell 0.6% to $7,520 a ton, having lost 6% in the week.
COFFEE
* September robusta coffee LRCc1 was little changed at $4,227 a ton. It lost 2% in the week.
* Dealers said the coffee market was pressured by an increased flow of conillon (robusta) supplies from Brazil, which had helped to offset by a decline in shipments from Vietnam.
* Traders said the weak Brazilian currency was boosting sales. Brazil's real BRL= hit a 3-1/2 year low on Friday amid fiscal concerns.
* Brazil's 2024/25 coffee harvest reached an estimated 87% of the crop, consultancy Safras & Mercado said.
* Broker StoneX cut slightly its projection for the Brazilian crop.
* September arabica coffee KCc1 rose 1.4% at $2.305 per pound.
Reporting by Nigel Hunt; Editing by David Goodman, Will Dunham and Shailesh Kuber
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