London cocoa climbs to one-month high, sugar slips
Adds background, updates prices
LONDON, Oct 16 (Reuters) -London cocoa futures climbed to a one-month high on Wednesday, boosted by falling exchange stocks and the prospect of another poor crop in number two grower Ghana.
COCOA
* March London cocoa LCCc2 was 3.1% higher at 5,385pounds a metric ton by 1335GMT after setting a one-month high of 5,481 pounds.
* Dealers said there was increasing concern that number two grower Ghana was likely to harvest a poor crop this season with disease and illegal mining both major challenges for the sector.
* Total valid stocks on the London cocoa contract totalled 29,020 tons, as of Oct. 15, down from 48,810 tons a month ago.
* Dealers said third quarter grind data for Europe and North America, due to be issued on Thursday, should provide an indication on the extent to which high prices are choking off demand for cocoa.
* December New York cocoa CCc1 rose 0.3%to $7,965 a ton.
SUGAR
* March raw sugar SBc1 fell 2.2% to 22.32 cents per lb, slipping back down towards last week's low of 21.77 cents.
* Dealers said the weakness of Brazil's real currency BRL= may have contributed to the drop in prices. A weak real tempts exporters in Brazil to ship dollar-priced sugar by raising returns in local currency terms.
* Rains in Brazil have also improved the outlook for the 2025/26 cane harvest, they added.
* December white sugar LSUc1 fell 0.9% to $572.50 a ton.
COFFEE
* December arabica coffee KCc1 fell 0.1% to $2.5650per lb as dealers continued to assess the extent to which recent rains may have improved the outlook for the 2025 crop in Brazil.
* Port bottlenecks in Brazil have prevented more than 2 million 60-kg bags of coffee from being exported in the first nine months of 2024,exporter group Cecafe said on Wednesday.
* November robusta coffee LRCc1 fell0.6% to $4,878a ton although the market remained underpinned by an expected smaller coffee crop in Vietnam this season with the harvest set to gather pace next month.
Reporting by Nigel Hunt; Editing by Kirsten Donovan
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