London cocoa edges up while raw sugar and coffee ease
LONDON, Sept 6 (Reuters) -London cocoa futures rose on Friday, edging further away from a 6-1/2 month low set this week, while raw sugar and coffee prices fell.
COCOA
* December London cocoa LCCc2 was up 0.5% at 5,274 pounds a metric ton by 0948 GMT.
* Prices slumped to a 6-1/2 month low of 4,975 pounds on Wednesday with the prospect of a rise in production in West Africa in the coming 2024/25 season keeping a lid on prices.
* "Improved weather conditions will see cocoa prices ease while remaining historically high," analyst BMI said in a note on Friday.
* December New York cocoa CCc2 rose 0.2% to $7,175 a ton.
SUGAR
* October raw sugar SBc1 fell 0.3% to 19.17 cents per lb, with the market on track for a weekly loss of 1.1%.
* Dealers said the market had lost some of the gains sparked by recent fires in Centre-South Brazil, which are expected to curb sugar production in the current 2024/25 season.
* There remain concerns, however, about supply tightness in the fourth quarter of 2024 and first quarter of 2025, with an early end to Brazil's harvest expected and exports from India thought to be unlikely.
* India plans to extend a ban on sugar exports for a second straight year as the world's biggest consumer of the sweetener grapples with the prospects of lower cane output, government sources said.
* October white sugar LSUc1 was up 0.02% at $546.90 a ton.
COFFEE
* November robusta coffee LRCc2 lost 0.4% to $4,890 a ton as the market continued to consolidate below last week's peak of $5,180, which was the highest level in at least 16 years.
* Dealers said the market remained underpinned by tight supplies in top robusta producer Vietnam.
* December arabica coffee KCc2 fell 1% to $2.4180 per lb.
Reporting by Nigel Hunt
Editing by David Goodman
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