Robusta coffee futures hit 4-week high, cocoa also gains
LONDON, Aug 19 (Reuters) -Robusta coffee futures rose to a four-week peak on Monday with a slowdown in shipments from Vietnam tightening global supplies, while cocoa prices were also higher.
COFFEE
* November robusta coffee LRCc2 rose 0.8% to $4,486 a metric ton by 1208 GMT after setting a four-week peak of $4,499.
* Dealers said exports from top robusta producer Vietnam continued to run well below year-ago levels helping to tighten global supplies.
* Uganda's coffee exports jumped 27.2% year-on-year in July, helped by a good harvest from one of the producing regions, the state-run Uganda Coffee Development Authority said on Saturday.
* December arabica coffee KCc2 rose 0.2% to $2.4460 per lb after hitting a one-week high of $2.4595.
COCOA
* December New York cocoa CCc2 rose 2.4% to $7,257 a ton.
* Dealers said short-term supplies remained very tight with September's premium to December CC-1=R widening to around $1,726 a ton, up from $1,550 indicated at Friday's close.
* A potential rebound in production in West Africa later this year, however, could provide some relief.
* December London cocoa LCCc2 rose 1.15% to 5,448 pounds a ton.
SUGAR
* October raw sugar SBc1 rose 0.1% to 18.04 cents per lb.
* Dealers said the market currently has ample supplies although an expected slowdown in exports from Brazil later this year was underpinning the market.
* Global raw sugar prices SBc1 are expected to regain ground during the remainder of 2024 but still end with a small annual loss of less than 3%, a Reuters poll of 10 traders and analysts showed on Monday.
* Speculators reduced their bearish bets in futures of raw sugar on ICE U.S. in the week to Aug. 13, the Commodity Futures Trading Commission (CFTC) said on Friday.
* October white sugar LSUc1 fell 0.02% to $516.40 a ton.
Reporting by Nigel Hunt; Editing by Shailesh Kuber
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