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2026-04-07 18:33:02
[Raw Sugar Falls to Three-Week Low, Energy Prices Support Limited Downside] ⑴ ICE raw sugar futures fell 1.3% to 14.77 cents per pound on Tuesday, hitting a three-week low of 14.69 cents during the session, a significant pullback after reaching a five-month high of 16.10 cents at the end of March. ⑵ Traders said further downside appeared limited as high energy prices could prompt countries like Brazil to use sugarcane more for ethanol production than sugar, providing support to the market. ⑶ The market was also supported by the El Niño weather pattern, which is expected to result in below-normal rainfall in India's 2026 monsoon season, potentially suppressing sugar production and leading to a global supply gap in 2026/27. ⑷ London cocoa fell 2.6% to £2,395 per tonne, with traders citing continued weak demand and expectations that first-quarter grinding data from Europe, North America, and Asia, to be released later this month, would show year-on-year declines. (5) Arabica coffee fell 2% to $2.9220 per pound, and Robusta coffee fell 1.3% to $3,402 per tonne.
