SOFTS-Arabica coffee climbs on fund buying, raw sugar slips

May 04, 2018 at 1:14 AM


* July raw sugar settled down 0.06 cent, or 0.5 percent, at 11.69 cents per lb.

* Prices fell sharply in the prior session in tandem with white sugar, after India approved plans to subsidize its cane farmers, which could pave the way for exports to the world market.

* Focus remained on a global supply glut, with commodity analyst Green Pool forecasting a combined sugar surplus of almost 25 million tonnes for the 2017-18 and 2018-19 seasons.

* The "very large addition to production has only had a small offset from the consumption side of the equation, leading to a blowout in stock levels," the analyst said.

* August white sugar settled down 30 cents, or 0.1 percent, at $323.50 per tonne.

Tags: Green Pool