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LONDON, July 8 (Reuters) – Raw sugar futures on ICE rose on Friday, with prices still underpinned by strong physical demand that has helped to tighten global supplies.
SUGAR
* October raw sugar SBc1 rose 1.5% to 18.80 cents per lb by 1119 GMT as the market extended its rebound from the four-month low of 17.71 cents set on Tuesday.
* India has extended by two weeks a deadline for the export of 800,000 tonnes of sugar as annual monsoon rains make it tough for many producers to move stocks from factories to ports, the government said on Friday.
* Farmers in India have fallen behind in planting key summer-sown crops such as rice, corn and soybeans owing to the uneven distribution of monsoon rainfall, though they could recover ground in the coming week if there is enough rain.
* August white sugar LSUc1 rose 1.3% to $562.30 a tonne.
COCOA
* September New York cocoa CCc2 fell 1% to $2,330 a tonne, slipping back towards Tuesday’s one-year low of $2,275.
* Dealers said the potential for a global economic downturn and conflict in Ukraine to curb demand for chocolate remained a major concern.
* They noted grind data for the second quarter should provide an indication on whether demand has already begun to weaken. European grind data is due on July 13 and the North American grind is scheduled for release on July 21.
* September London cocoa LCCc2 fell 1.2% to 1,728 pounds a tonne.
COFFEE
* September arabica coffee KCc2 rose 0.02% to $2.1895 per lb.
* September robusta coffee LRCc2 rose 0.1% to $1,946 a tonne.
(Reporting by Nigel Hunt Editing by David Goodman )
((nigel.hunt@thomsonreuters.com; +44 (0) 7990 561421; Reuters Messaging: nigel.hunt.thomsonreuters.com@reuters.net ))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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