Softs: Raw sugar up India's tight supply, oil gains; coffee and cocoa also rise

General Mills

09/09/2026 20:38

Adds comments and closing prices
NEW YORK, Sept 9 (Reuters) - Raw sugar futures on ICE rose on Wednesday, boosted partly by tight supplies in top consumer India and rising energy prices, while coffee and cocoa prices also gained. 

SUGAR
* Raw sugar SBc1 ​​settled up 0.3 cent, or 1.7%, at 18.40 cents per lb. The market set a 16-month high of 18.77 cents a week ago.
* India's port-based sugar refineries are likely to divert about 250,000 metric tons of refined sugar to the domestic market, an industry executive said on Wednesday.
* BMI analysts also said in a note that any El Nino-linked production disruptions in India would have a greater impact than in previous cycles due to low stocks.
* Oil prices jumped due to renewed attacks in the Middle East, which could give a boost to cane-based ethanol.
* White sugar LSUc1 gained 3% to $534.30 a metric ton.
* Food giants General Mills GIS.N and Mars sued United Sugar, Domino owner ASR Group and other top U.S. sugar producers, alleging they engaged in a years-long conspiracy to fix prices.
                 
COFFEE
* Arabica coffee KCc2 settled up 0.75 cents, or 0.3%, at $2.9205 per lb, pulling further away from a five-week low of $2.8660 set on Tuesday.
* Dealers said the market was supported by low exchange certified stocks.
* "Arabica certified stocks remain near their lowest level since March 1999 and likely won’t likely see a significant increase until late October, at least," Rabobank said in a note.
* Meanwhile, rains in Brazil, and forecast for more, are boosting the prospect for next year as they could improve flowering.
* "Conditions in Brazil for the 2027 crop have been excellent so far," said StoneX coffee broker Tomas Araujo.

        * Robusta coffee LRCc2 gained 0.4% to $3,472 a ton.

COCOA
* London cocoa LCCc2 ​settled up £20, or 0.5%, to £4,315  per ton.
* Ivorian cocoa traders, cooperatives and buying agents are struggling to use a new national traceability system introduced ahead of incoming European Union rules banning imports of commodities grown on recently deforested land.
* New York cocoa CCc2 rose 0.6% to $5,951 a ton.

 (Reporting by Nigel Hunt and Marcelo Teixeira; Editing by Diti Pujara and David Gregorio)
 ((marcelo.teixeira@tr.com; +1 332 220 8062; https://x.com/tx_marcelo))