PARIS, Jan 22 (Reuters) – White sugar futures rose on Wednesday however remained near a three-year low hit within the earlier session, pressured by information of India’s return to the export commerce market, whereas robusta espresso prolonged its rise on a decrease manufacturing outlook in Brazil.
* White sugar was 1.6% greater at $473.9 a metric ton by 1219 GMT. It reached its lowest since August 2021 on Tuesday at $462.6.
* Uncooked sugar rose 1.12% to 17.99 cents per lb, after a five-month low of 17.57 cents within the earlier session.
* India, the world’s second-largest sugar producer, on Monday mentioned it should enable 1 million metric tons of exports within the present season that runs to end-September, shocking some merchants.
* In Brazil, agricultural yields on sugarcane farms went down 10.8% in 2024, in accordance with analysis firm Centro de Tecnologia Canavieira (CTC), to a median of 78 metric tons per hectare (31 tons per acre).
* New York cocoa futures had been down 0.8% at $11,462 a metric ton.
* Round 100,000 fewer metric tons of cocoa are anticipated to reach at Ivory Coast ports between February and March versus final season, a pod counter and a director at an exporting agency instructed Reuters, because the sector frets about poor rains and excessive temperatures.
* Ghana has delayed the supply of 370,000 metric tons of cocoa within the 2023/24 season attributable to poor output, its meals and agribusiness minister-designate mentioned on Monday, up from the 350,000 tons beforehand reported by Reuters.
* Chocolate maker and cocoa processor Barry Callebaut BARN.S reported a decrease gross sales quantity than anticipated for its first quarter on Wednesday, hit by delayed orders as its purchasers renegotiate product costs with retailers amid file excessive cocoa prices.
* London cocoa was down 0.9% at 9,153 kilos per ton.
* Arabica espresso was up 1% at $3.3115 per lb, after reaching a one-month peak at $3.3625 on Tuesday.
* Robusta espresso rose 1.54% to $5,346 a ton, a value not seen since Dec. 10.
* Doubts over provide from high producer Brazil had been underpinning costs.
* Brazilian agricultural statistics company Conab lowered its projection for the nation’s 2024 espresso crop on Tuesday by 0.57 million baggage to 54.21 million, largely attributable to smaller-than-expected manufacturing of robusta beans.
(Reporting by Sybille de La Hamaide; Enhancing by Emelia Sithole-Matarise)
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