LONDON, Aug 10 (Reuters) – Uncooked sugar futures on ICE rose to the best degree in additional than 4 years on Tuesday as sellers awaited manufacturing knowledge from the important thing Centre-South area of Brazil, which can present additional proof of the injury to crops from drought and frosts.
SUGAR
* October uncooked sugar SBc1 was up by 0.56 cents, or 3.0%, to 19.03 cents per lb at 1112 GMT, after climbing to a peak of 19.10 cents – the best since March 2017.
* “For this 12 months, the affect is pushed by the necessity to harvest frost-affected cane forward of different fields, thereby reaching sub-optimal yields, whereas for subsequent 12 months, the affect is because of contemporary cane shoots dying again,” the Worldwide Sugar Group mentioned in an replace issued on Tuesday.
* Brazilian cane trade group UNICA is predicted to launch knowledge overlaying the second half of July at 1400 GMT on Tuesday, which might present an additional drop in yields.
* Sellers mentioned weak demand remained a priority and the whites market did not match positive factors within the raws market.
* October white sugar LSUc1 rose by $11, or 2.4%, to $461.20 a tonne.
COCOA
* December New York cocoa CCc2 rose by $13, or 0.5%, to $2,493 a tonne.
* Sellers mentioned the market had derived some assist from issues about chilly climate in prime grower Ivory Coast which can sluggish the begin to the primary crop in October.
* December London cocoa LCCc2 rose by 16 kilos, or 0.9%, to 1,735 kilos a tonne.
* Irregular rains and extended dry seasons imply African’s quantity three cocoa producer Cameroon is struggling to fulfill its long-term goal to spice up output to greater than 300,000 tonnes.
COFFEE
* September arabica espresso KCc1 fell by 0.25 cents, or 0.1%, to $1.7910 per lb.
* November robusta espresso LRCc2 was unchanged at 1,797 a tonne.
(Reporting by Nigel Hunt Modifying by Mark Potter)
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