Raw sugar hits one-month low while cocoa also falls

By Reuters News12:23 (UTC), 3 November 2026 Updated

LONDON, Nov 3 (Reuters) - Raw sugar futures on ICE fell to a one-month low on Tuesday, extending recent losses, as funds scaled back long positions, while cocoa prices also fell.

SUGAR

* Raw sugar dropped by 2.3% to 18.62 cents per lb by 1212 GMT after setting a one-month low of 18.39 cents.

* Dealers said the market was extending a downward trend initially triggered by the result of Brazil's election, which led to a sharp decline in the country's currency and a pick up in hedge selling by Brazilian mills.

* White sugar fell 1.1% to $503.70 a ton.

* Associated British Foods on Tuesday forecast another year of lower profit after reporting a 14% fall in earnings for 2025/26, pressured by deepening losses in its sugar business.

COCOA

* London cocoa lost 0.3% to £4,212 per ton after touching a one-month low of £4,157.

* Rainfall was below average last week across most of Ivory Coast's cocoa-growing regions, but farmers said levels were sufficient to support harvesting in January and February, and boost prospects for the September-to-February main crop.

* New York cocoa fell 0.2% to $5,425 a ton, having hit a one-month low at $5,343.

COFFEE

* ICE arabica coffee rose 1% to $2.9490 per lb.

* Dealers said the market was underpinned by short-term supply tightness although the outlook for next year's crops remains generally favourable.

* They noted that exchange stocks stood at 220,917 bags, as of November 2, down from 225,610 bags a week ago. At the same time last year stocks stood at 431,481 bags.

* Robusta coffee fell 0.1% to $3,238 a ton.

* Vietnam exported 1.569 million metric tons of coffee in the first 10 months of 2026, up 18.8% from the same period a year earlier, government data showed on Tuesday.