SOFTS Raw sugar futures fall sharply, coffee edges up

LONDON, Feb 2 (Reuters) – Raw sugar futures on ICE fell sharply on Wednesday, heading back down towards a two-week low set earlier this week while coffee prices were slightly higher.

SUGAR

* March raw sugar fell 2.9% to 17.94 cents per lb by 1632 GMT. The front month had fallen to a two-week low of 17.90 cents on Monday.

* Dealers said weaker oil prices added to downward momentum while other bearish factors include an improving outlook for production in India.

* March white sugar fell 2.1% to $488.90 a tonne.

COFFEE

* March arabica coffee was up 0.4% at $2.3760 per lb.

* Dealers noted the market remained underpinned by the slow pace of exports from top producer Brazil.

* Brazil exported 178,093 tonnes of green coffee in January, down from 221,966 tonnes in the same month last year, government data showed on Tuesday.

* March robusta coffee rose 0.9% to $2,197 a tonne, edging away from a three-month low of $2,161 set on Monday.

COCOA

* March New York cocoa rose 0.1% to $2,617 a tonne.

* Dealers said the market was supported by concerns about dry weather in top producer Ivory Coast. read more

* March London cocoa fell 0.1% to 1,744 pounds a tonne.

* Nigerian cocoa exports rose 43.5% in the first eight months of 2021 from a year earlier to 100,779 tonnes, official data showed on Wednesday, as demand recovered in the wake of coronavirus disruptions.

Reporting by Nigel Hunt; editing by David Evans

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