LONDON, Aug 20 (Reuters) – Arabica espresso futures on ICE had been decrease on Friday, weakened by sentiment that frost-related crop losses in Brazil might not be as extreme as initially feared, whereas cocoa costs additionally fell.
COFFEE
* December arabica espresso KCc2 was down 1.05 cents, or 0.6%, at $1.8025 per lb, as of 1100 GMT.
* Sellers mentioned the market continued its pullback from a close to seven-year peak set on July 26 that adopted considerations frosts in Brazil had executed in depth injury to crops.
* “Plainly the worst fears in regards to the frost-related losses to the espresso crop in Brazil haven’t been confirmed,” Commerzbank mentioned in a market replace, noting a forecast by TRS that possible losses could be about 4%.
* November robusta espresso LRCc2 rose by $20, or 1.1%, to $1,883 a tonne.
COCOA
* December New York cocoa CCc2 fell by $20, or 0.8%, to $2,621 a tonne, extending its retreat from an eight-month peak of $2,681 set on Wednesday.
* Sellers mentioned the market had derived assist just lately from indicators that demand is recovering from a COVID-19 associated stoop however provides stay ample following bigger crops in each Ivory Coast and Ghana within the present 2020/21 season.
* “Cocoa costs stay within the doldrums (although have seen a slight pickup in latest weeks), because the pickup in demand will take longer to take form given its reliance on the journey sector, whereas the availability outlook is rather more constructive than for different softs,” Fitch Options mentioned in a notice on Friday.
* December London cocoa LCCc2 was down 1 kilos, or 0.1%, at 1,800 kilos a tonne.
SUGAR
* October uncooked sugar SBc1 rose by 0.17 cents, or 0.9%, to 19.96 cents per lb.
* Sellers mentioned the market was supported by the prospect of decrease manufacturing in Centre-South Brazil this season, and that would shift the worldwide market into deficit.
* October white sugar LSUc1 rose by $0.60, or 0.1%, to $495.10 a tonne.
(Reporting by Nigel Hunt, Modifying by Sherry Jacob-Phillips)
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