Raw sugar futures rise but still set for weekly loss
LONDON, Aug 16 (Reuters) -Raw sugar futures rose on Friday but remained on track for a weekly loss, weighed down partly by an improving outlook for cane crops in India following strong monsoon rains.
SUGAR
* October raw sugar SBc1 rose 0.8% to 18.02 cents per lb by 1046 GMT although the market remained on track for a weekly loss of about 2.5%.
* Analyst BMI said in a note that abundant Brazilian supplies had consistently pressured global prices, while an improving crop in India had also weighed on the market.
* "Favourable weather forecasts and reports from the Indian Sugar and Bio-Energy Manufacturers Association indicate sufficient stocks to support domestic ethanol production and resume exports, further depressing global prices," BMI said.
* October white sugar LSUc1 rose 0.6% to $516.50 a metric ton.
COFFEE
* December arabica coffee KCc2 rose 0.1% to $2.3835 per lb with the market on track for a weekly gain of 3.5%.
* Dealers said light frosts in some part of Brazil during the last few days had heightened concerns about next year's crop, while drier-than-normal weather has also dented the outlook.
* November robusta coffee LRCc2 rose 0.2% to $4,386 a ton, with supplies in top robusta producer Vietnam remaining tight.
COCOA
* December New York cocoa CCc2 rose 1.7% to $7,069 a ton although the market remained on track for a weekly loss of 4.3%.
* Dealers said the prospect of a rebound in production in West Africa in the upcoming 2024/25 season had exerted downward pressure on prices.
* December London cocoa LCCc2 rose 1.6% to 5,407 pounds a ton.
Reporting by Nigel Hunt; Editing by Shounak Dasgupta
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