Raw sugar prices ease as Indian crop outlook improves
LONDON, Aug 1 (Reuters) -Raw sugar futures were down slightly on Thursday after stronger than normal monsoon rains in India improved the outlook for cane crops. Coffee prices also fell.
SUGAR
* October raw sugar SBc1 was down 0.2% at 18.91 cents per lb by 0950 GMT.
* Dealers said higher than normal monsoon rainfall in India was beneficial for cane crops and should lead to a build in stocks in a country that is one of the world's top producers.
* India is set to receive above-average monsoon rainfall as a La Nina weather pattern forms in August and September, a weather official said on Thursday, promising to boost farm output and growth in Asia's third-biggest economy.
* The market was underpinned, however, by diminished prospects for production in Centre-South Brazil, with the region set to remain dry in the coming weeks.
* October white sugar LSUc1 was unchanged at $535 a ton.
COFFEE
* September arabica coffee KCc1 fell 1.1% to $2.2665 per lb.
* Dealers said the market was pressured by an increased flow of arabica and conillon (robusta) supplies from Brazil, where the harvest is in its final stages.
* Losses were curbed, however, by concerns that unfavourable weather in Brazil could reduce next year's harvest.
* September robusta coffee LRCc1 fell 1.4% to $4,203 a ton.
COCOA
* September London cocoa LCCc1 was down 2.5% at 6,267 pounds a ton.
* Dealers said the weather in West Africa remained generally favourable for 2024/25 main crops.
* September New York cocoa CCc1 fell 3.5% to $7,812 a ton.
Reporting by Nigel Hunt
Editing by David Goodman
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