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2026-05-27 18:52:18
[Crude oil price decline drags raw sugar down to a four-week low of 14.33 cents, while cocoa bucks the trend, surging 2.8% to continue its strong performance] ⑴ Raw sugar futures fell to a four-week low on Wednesday, with the most active contract touching 14.33 cents per pound before closing down 1.2% at 14.36 cents. Traders said the decline in the crude oil market put downward pressure on sugar prices, as lower energy prices may prompt sugar mills to use more sugarcane for sugar production rather than bioethanol. The market is awaiting data on sugar and ethanol production in Brazil's south-central region for the second half of April, to be released later on Wednesday. White sugar futures also fell 1.6% to $430.10 per tonne. ⑵ London cocoa futures continued their recent strong performance, rising 2.8% to £3,241 per tonne on Wednesday, after recording a 10.2% gain in the previous session. Traders noted that the price chart is becoming more positive, but improved production prospects in Côte d'Ivoire remain a bearish factor. New York cocoa futures rose 3.7% to $4,323 per tonne. (3) Arabica coffee futures rose 0.5% to $2.7530 per pound, with traders saying that buying from roasters in recent days provided support for prices. Robusta coffee futures fell slightly by 0.3% to $3,368 per tonne.
