Arabica coffee prices rise but still set for weekly loss
LONDON, Oct 4 (Reuters) -Arabica coffee futures rose on Friday, regaining some ground after falling sharply earlier in the week, while London cocoa prices slipped towards a recent eight-month low.
COFFEE
* December arabica coffee KCc1 rose 1.3% to $2.5330 per lb by 1044 GMT but were on track for a weekly loss of nearly 6%.
* Dealers said forecasts for rains in Brazil had led to a pullback in prices this week but there remain concerns that a prolonged spell of dry weather had dented the outlook for next year's crop in the world's top producer.
* They also noted that price charts continued to indicate an overall upward trend in prices.
* "Near-term momentum is on the downside; however, we see little appetite for prices to break out of the longer-term trend on the upside. Therefore, we expect the downward trend to reverse in the coming days," broker Sucden Financial said.
* November robusta coffee LRCc1 rose 1.1% to $4,970 a ton.
COCOA
* March London cocoa LCCc2 fell 2.1% to 4,347 pounds a ton, slipping back towards an eight-month low of 4,296 pounds set earlier this week.
* Dealers said favourable crop weather in top growers Ivory Coast and Ghana had helped to put the market on the defensive.
* Broker StoneX projected in a report on Thursday that the global cocoa market will have a supply surplus in 2024/25, which would be the first in four years.
* December New York cocoa CCc1 fell 2.5% to $6,854 a metric ton.
SUGAR
* March raw sugar SBc1 fell 0.1% to 23.22 cents per lb.
* A rise in sugar prices in September helped to fuel the biggest gain in 18 months in the United Nations' world food price index, data issued on Friday showed.
* December white sugar LSUc1 rose 0.3% to $585.80 a ton.
Reporting by Nigel Hunt; Editing by Krishna Chandra Eluri
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