Raw sugar hits five-month peak, coffee slips further
Adds background, updates prices
LONDON, Sept 19 (Reuters) -Raw sugar futures rose to a five-month high on Thursday boosted by a deteriorating outlook for next year's cane crop in centre-south Brazil while coffee prices slipped further from recent multi-year highs.
SUGAR
* October raw sugar SBc1 rose 1.4% to 21.46 cents per lb by 1342 GMT after setting a five month high of 21.50 cents.
* Dealers said the market had been buoyed by a diminishing outlook for the next cane crop (2025/26) in centre-south Brazil following a prolonged dry spell.
* Yields for Brazil's 2024/25 sugarcane crop in the country's key centre-south region are down 7.4% through the end of August compared with last season, data from sugarcane firm CTC showed on Wednesday, amid dry weather and fires in the world's largest sugar producer.
* December white sugar LSUc1 rose 1.8% to $565.40 a metric ton.
COFFEE
* December arabica coffee KCc1 fell 1.6% to $2.6020 per lb, extending the market's retreat from a 13-year high set on Monday.
* Dealers said the market was underpinned by a smaller-than-expected crop in Brazil this year and concerns that dry weather will curb production next year.
* Coffee production in Brazil stood below initial forecasts in 2024 as adverse weather conditions affected key crop development stages, national food supply agency Conab said on Thursday.
* November robusta coffee LRCc2 fell 2.2% to $5,215 a ton.
COCOA
* December New York cocoa CCc1 rose 0.5% to $7,854 a ton.
* Dealers said the market had stabilised at prices well below peaks set in April as generally favourable weather improved the outlook for 2024/25 crops in West Africa.
* An increase in investment on cocoa farms linked to high prices this year will, however, take time to impact supplies.
* "As a perennial tree, it can take three to four years for new cocoa trees to begin producing beans. Moreover, issues including diseases especially CSSVD (cocoa swollen shoot virus) and climate change persist and compound the problems faced by cocoa farmers," the International Cocoa Organization said in a report on Thursday.
* March London cocoa LCCc2 fell 0.2% to 4,641 pounds a ton weighed by the strength of sterling.
Reporting by Nigel Hunt; Editing by Janane Venkatraman and Emelia Sithole-Matarise
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