LONDON, June 22 (Reuters) – Uncooked sugar futures on ICE have been decrease on Tuesday as an extra weakening within the entrance month’s low cost within the run-up to its expiry subsequent week highlighted issues about weak demand.
SUGAR
* July uncooked sugar SBc1 fell by 0.14 cent, or 0.8%, to 16.64 cents per lb by 1138 GMT.
* Sellers mentioned the market was displaying indicators of resuming its latest downtrend after a pointy upward correction on Monday when the entrance month hit a two-month low of 16.19 cents.
* They famous July’s low cost to October was widening SB-1=R within the run-up to its expiry subsequent week, an indication there may be little urge for food to obtain sugar given demand stays weak.
* August white sugar LSUc1 fell by $3.40, or 0.8%, to $422.30 a tonne.
* Sao Martinho SA SMTO3.SA, a big Brazilian maker of sugar and ethanol, mentioned on Monday it plans to provide extra of the cane-based biofuel and fewer sugar from its 2021/22 crop.
COFFEE
* September arabica espresso KCc2 rose by 0.45 cent, or 0.3%, to $1.5450 per lb, edging farther from a one-month low of $1.4905 set on Monday.
* Sellers mentioned the market was underpinned by some tightness in provides with Brazil harvesting a smaller crop this yr, an off-year in its biennial cycle.
* Speculators minimize their internet lengthy place in arabica espresso on ICE within the week to June 15, information from the U.S. Commodity Futures Buying and selling Fee confirmed on Monday.
* September robusta espresso LRCc2 rose by $1, or 0.1%, to $1,618 a tonne.
COCOA
* September New York cocoa CCc2 rose by $18, or 0.8%, to $2,396 a tonne.
* September London cocoa LCCc2 rose by 14 kilos, or 0.9%, to 1,634 kilos a tonne.
* The world’s high two cocoa producers Ivory Coast and Ghana on Monday threatened to call and disgrace high chocolate manufacturers they are saying are undermining a scheme geared toward paying cocoa farmers a dwelling revenue.
(Reporting by Nigel Hunt; modifying by Barbara Lewis)
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