Sugar prices suppressed by ample supplies; robusta hits 1-month high
Adds comments, updates prices to settlement
NEW YORK, Aug 21 (Reuters) - Raw sugar futures matched the previous session's multi-year low on Wednesday, with the strong pace of production in Centre-South Brazil ensuring the market remains well supplied, while robusta coffee rose to a one-month peak.
SUGAR
* October raw sugar SBc1 settled up 0.08 cent, or 0.5%, at 17.65 cents per lb after matching the previous session's low of 17.52 cents - the weakest level since October 2022.
* Dealers said that sugar production in Centre-South Brazil remains strong, but there have been signs that it was beginning to tail off more quickly than last year.
* "While the CS Brazil crop is running ahead of last year, the latest fortnightly report from UNICA shows that output in the second half of July was lower year on year. If this trend continues, speculators may have to rethink their bearish attitude towards the market," ING said in a note.
* October white sugar LSUc1 rose 0.6% at $505.60 a metric ton.
COCOA
* December New York cocoa CCc2 settled up $57, or 0.7%, to $7,697 a ton.
* Dealers said there were still major concerns about the situation in Ghana, with the state regulator now targeting a crop of only 650,000 tons, down from an earlier prediction of 810,000 tons.
* They noted that Ghana could struggle to raise enough money to purchase its next crop after a decision not to raise a syndicated loan for the first time in more than three decades.
* December London cocoa LCCc2 fell 0.7% to 5,473 pounds per ton.
COFFEE
* November robusta coffee LRCc2 settled up $13, or 0.3%, at $4,632 a ton after earlier hitting a one-month high of $4,658, which was also the contract's peak so far.
* Dealers said exports from Vietnam continued to lag last season's pace while there were also concerns about lower than normal rainfall this month in the world's leading producer of robusta coffee.
* December arabica coffee KCc2 rose 0.3% at $2.4925 per lb.
Reporting by Nigel Hunt and Marcelo Teixeira; Editing by Sharon Singleton, David Goodman and Shailesh Kuber
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