Raw sugar futures rise, coffee prices weaken

(Includes comments and closing prices)

NEW YORK, March 12 (Reuters) –

Raw sugar futures rose on Wednesday, supported by dry weather in Brazil and weaker production outlooks in India and Thailand, while coffee prices fell.

* Raw sugar futures settled up 0.19 cent, or 1%, at 18.86 cents per lb.

* Dealers said there was little sign of fresh export sales from India even though they have not yet filled a quota of one million tons to help mills export surplus stocks.

* Indian mills have contracts to export 600,000 metric tons of sugar in the 2024/25 marketing year ending in September, but are reluctant to sign further export deals as local prices have increased.

* StoneX on Wednesday forecast that sugar production in Centre-South Brazil would total 41.7 million tons in 2025/26, broadly in line with the consensus in a Reuters poll issued last month of 41.6 million. Datagro estimated it at 42.35 million tons.

* White sugar rose 1.7%, at $533.20 a metric ton.

* New York cocoa settled up $53, or 0.6%, to $8,355 a ton.

* Dealers said the market lacked a clear overall trend during the last few days with support emerging whenever prices dip below $8,000.

* An improving outlook for this year’s crop in top-grower Ivory Coast, however, has helped to limit the scope for any rebound in prices after a sharp decline last month.

* London cocoa rose 1.3% to 6,489 pounds per ton.

* Arabica coffee settled down 7 cents, or 1.8%, at $3.8675 per lb.

* Dealers said the market was pressured by concerns that a sharp rise in prices last year was eroding demand.

* Brazil’s statistics agency IBGE said on Wednesday prices for roast ground coffee at groceries rose 68% since beginning of 2024. Brazil is the second largest consumer of the beverage.

* Robusta coffee fell 0.8% at $5,508 a ton. (Reporting by Nigel Hunt and Marcelo Teixeira; Editing by Tomasz Janowski, Shinjini Ganguli and Mohammed Safi Shamsi)